The Andhra Pradesh State Investment Promotion Board (SIPB) today approved proposals worth Rs 9,200 crore including three cement plants and concessions to Hero MotoCorp project.
The Board met under the chairmanship of State Chief Minister N Chandrababu Naidu today approved two green field cement plants one in Dachepalli of Guntur District and another unit in Petnikota of Kurnool District by Ultratech cement of the Aditya Birla group and one more cement plant at Kolimigundla by the Ramco group.
The total capacity of these 3 cement plants is likely to be about 12 m.t. per annum and expected to generate employment for nearly 4,000 people directly and a few thousands more indirectly.
According to a statement, the SIPB also decided to provide railway siding facility between Sanjamala and Kolimigundla over a distance of 20 km. The SIPB agreed to provide dedicated water supply for these new water supply plants as well as additional water supply to the Tadipatri plant of Ultratech cements from the newly proposed water transmission corporation of Andhra Pradesh.
The Board also cleared incentives for Kelloggs India Ltd., which is setting up its plant near Sri City.
Other approvals include supply of water at concessional rate for a period of 5 years for all new textile units that will come up in Bandix SEZ at Atchutapuram in Visakhapatnam District.
The meeting also decided to immediately reduce the AP VAT being levied on Subabul from 14.5 per cent to 5 pc as Subabul is also a pulp wood species which is regenerated and meant for paper and card board industry.
In another important decision, the Board deleted MDF Board and Particle Board manufacturing units from the negative list of the industrial policy 2010-15.
The Board approved the concessions that have been extended to Hero MotoCorp in the MOU that was signed recently with the company in view of its tremendous potential for large scale ancillaries likely to come up and consequent employment generation in the State.