SIPB has approved 31 proposals worth ₹3.10 lakh crore from June 2024 to January 2025, says Industries Minister Bharath
The Hindu
Andhra Pradesh SIPB approves ₹3.10 lakh crore investments, targeting 3.12 lakh jobs, including major projects by ArcelorMittal and BPCL.
The Andhra Pradesh State Investment Promotion Board (SIPB) has approved 31 proposals worth an estimated ₹3.10 lakh crore during the period from June 2024 to January 2025, with the target of generating employment to 3.12 lakh people in the State.
“These investment proposals have been approved by the SIPB within seven months of the formation of the NDA government headed by Chief Minister N. Chandrababu Naidu,” T.G. Bharath, Minister for Industries & Commerce, said in Legislative Council on Thursday.
He was replying to a question raised by members Duvvarapu Rama Rao, B. Tirumala Naidu and Bhumireddy Ramagopal Reddy.
ArcelorMittal Nippon Steel India Pvt. Ltd would invest ₹61,780 crore in an integrated plant with a captive port in Nakkapalli mandal of Anakapalli district. Astha Green Energy Ventures India Pvt. Ltd. would invest ₹8,240 crore for establishing 1,800 MW PSP project in Annamayya and YSR Kadapa districts. LG Electronics India Ltd. promised to invest ₹5,000 crore in setting up a consumer goods manufacturing unit at Sri City in Tirupati district. Philips Carbon Black Ltd. would invest ₹3,798 crore in new rubber black and value-added chemicals at Naidupeta in Tirupati district.
Bharat Petroleum Corporation Ltd. (BPCL) would invest ₹96,862 crore in setting up an oil refinery and petrochemical products unit at Ramayyapatnam Port in Nellore district. Reliance Industries Ltd. would establish compressed biogas plants across the State with an investment of ₹65,000 crore.
AM Green Ammonia (India) Pvt Ltd. promised to invest ₹12,000 crore in green ammonia manufacturing facility, while John Cockerill Greenko Hydrogen Solutions Pvt. Ltd. came forward to invest ₹2,000 crore in electrolyser manufacturing facility, both in Kakinada, the Minister said.
Tata Power Renewable Energy Ltd. would invest ₹2,000 crore on solar energy at Pattikonda and Clean Renewable Energy Hybrid Three Pvt. Ltd would invest ₹2,000 crore on solar hybrid with battery storage unit in Nandyal and Kadapa districts.
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