The Andhra Pradesh State Investment and Promotion Board (SIPB), which met at Tadepalli (Andhra Pradesh) on Monday, has approved two proposals along with other proposals with an aggregate investment of Rs 23,985 crore.
Steel major JSW Steel will set up a steel factory in YSR Kadapa district in Andhra Prdesh with an investment of ₹8,800 crore. Adani Green Energy Projects will set up a unit in Vizianagaram and Alluri Sitarama Raju district with an investment of ₹6,330 crore.
The JSW Steel factory project will be taken up in two phases with an annual production capacity of 3 million tonnes.
“The steel project will give direct and indirect employment to thousands of people. We expect the work on the project to be commenced soon. It will benefit the entire Rayalaseema as it would foster several allied industries,” Y S Jaganmohan Reddy, the Chief Minister of Andhra Pradesh, said in a statement.
The Adani Green Energy Projects will set up two pumped hydro storage power units with a total capacity of 1,600 MW. It is expected to generate jobs to 4,000 people. While the unit in Vizianagaram generates 600 MW of power, the unit in ASR district will generate 1,000 MW.
Other proposals
Shirdi Sai Electricals Ltd will set up two hydro storage projects in Erravaram (1,200 MW) and Somasila (900 MW) with an investment of ₹8,855 crore.
“We hope the works on these projects will commence in July 2022 and the project will be operational by December 2028,” he said.