State Investment Promotion Board gives green signal to eight projects in Andhra Pradesh

 Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has instructed the officials to strictly enforce the specially enacted law that provides 75% of the jobs to local residents in private and government-sponsored industries in the State. Presiding over the State Investment Promotion Board (SIPB) meeting where eight new projects were approved here on July 11 (Tuesday), Mr. Jagan Mohan Reddy said that the District Collectors should monitor the implementation of the Act and submit reports in every six months.

 Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has instructed the officials to strictly enforce the specially enacted law that provides 75% of the jobs to local residents in private and government-sponsored industries in the State. 

Presiding over the State Investment Promotion Board (SIPB) meeting where eight new projects were approved here on July 11 (Tuesday), Mr. Jagan Mohan Reddy said that the District Collectors should monitor the implementation of the Act and submit reports in every six months.

”We are providing land and other facilities to the new industries with the condition of giving 75% of the jobs to the local residents to avoid any opposition from the latter,” he said and asked the officials to ensure that the Act was implemented in letter and spirit.

“Support of the locals is very important for the smooth and efficient functioning of the industries and the official machinery should keep this in mind. Focus on developing desalinated water and supply it to the new units to avoid scarcity of water for agriculture and drinking water purposes in future,” he said, adding that the officials should follow the desalination methods being used in Israel.

Mr. Jagan Mohan Reddy also directed the officials to ensure that the companies paid MSPs to farmers. 

The SIPB gave a green signal to JSW Neo Energy to set up a 1500 MW hydro-storage power project with an investment of ₹8,104 crore at Bakkannavari Palli in Vempally Mandal of Kadapa district. It will produce 3314.93 million units of power every year and provide employment to 1,500 persons. The unit will start in December 2024.

Hero Future Energies’ affiliated company Clean Renewable Energy will set up a 225 MW solar power unit at Kotapadu in Nandyal district and 150 MW wind power units at Boyala Uppuluru in Anantapur district, Nandyal and Kadapa districts. The company will invest ₹2,450 crore and start the work in October 2023. The last phase of the project will complete in 2025 and it will provide employment to 375 persons.