Andhra pradesh state investment promotion board - Latest News Update, Information, Photos & Videos on Andhra pradesh state investment promotion board at Lokmat Times

Amaravati, June 30 The Andhra Pradesh State Investment Promotion Board (SIPM) chaired by Chief Minister Y.S. Jagan Mohan Reddy has allotted 860 acres of land to Jindal Steel Andhra Limited for setting up a steel plant with an investment of Rs 7,500 crore.Slated to come up at Thamminapatnam in Nellore district, the integrated steel plant with an annual production capacity of 2.25 MT is expected to employ 2,500 people in four years, said an official statement detailing the several decisions of the SIPM.Likewise, the investment board approved to extend the deadline for global glass manufacturer St Gobain to set up an industry in Visakhapatnam district."The company had requested for an extension due to the Covid conditions with a proposal to invest Rs 2,001 crore in three phases," said the statement.Similarly, the board approved Pitti Rail Engineering Components Limited to manufacture electrical, locomotive and industrial equipment at an investment of Rs 401 crore, creating employment for 2,000 people.The board also gave a nod to Neelkamal Limited at Kopparthi where it is keen on investing Rs 486 crore to manufacture furniture, employing 2,000 people."The board also approved the expansion of Greentech Industries in Naidupet area of Nellore district, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen and others," said the statement.Greentech has already invested Rs 750 crore and will invest another Rs 627 crore to expand and additionally employ 2,200 people.Similarly, the board gave green signal to Ammayapper Textiles Private Limited in Chittoor district, which has come forward to invest Rs 30 crore, and provide 90 per cent jobs to women.Likewise, the board also approved the construction of a mega retail park for textiles and garments in 5 acres of land at Tadepalli in Guntur district with an investment of Rs 194 crore."The retail park will be housing around 900 retail units, creating direct employment for nearly 5,000 people," the statement said.Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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Andhra pradesh state investment promotion board, Latest News

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