The Andhra Pradesh Government today approved 22 investment proposals for special packages, including two in the automotive sector where Mahindra & Mahindra figures and two in the petrochemical sector, which entail total outlay of Rs 76,552 crore.
The State Investment Promotion Board (SIPB), chaired by the Chief Minister, Mr N. Kiran Kumar Reddy, approved these proposals, while three other units sought additional time for approval, said Ms J. Geetha Reddy, Minister for Major Industries.
Addressing a press conference, she said that these units when completed would directly employ about 71,908 people. Of the total proposals, Visakhapatnam accounted for an investment outlay of Rs 50,950 crore from three projects.
The proposals cleared include that of Amerind Petrochemicals Ltd (Rs 9,950 crore) and Al Qebla Al Watya (Rs 40,000 crore) in PCPIR. The proposals include that of Mahindra & Mahindra, Kobelco Construction Equipment, Berger Paints, United Spirits, Prism Cements, Hindustan National Glass and Continental Multimodal Terminal.
PSUs too line-up
Ms Geetha Reddy stated that the State Government has received 140 investment proposals worth Rs 3,14,466 crore, with a total expected employment potential of 2,49,219 people. These include some of the leading public sector undertakings such as BDL, HAL, BEL and NPCL.
Some of the memoranda for the new projects are to be inked during the flagship CII-Partnership Summit to be held at the Hyderabad International Convention Centre (HICC) during January 11-13.