The State Investment Promotion Board (SIPB) meeting at the Camp Office on Tuesday, had cleared eight projects with an investment of Rs 13,000 crore in the state. Chief Minister Y S Jagan Mohan Reddy chaired the meeting.
“We are providing land and other facilities to the new industries with the condition of giving 75 per cent of the jobs to locals with a view to avoid any opposition from the local people,” he said and asked the officials to ensure that the Act is implemented in letter and spirit in all industries.
The following are the projects approved by the SIPB:
JSW Neo Energy has got the green signal to set up a 1500 MW hydro storage power project with an investment of Rs.8104 crore at Bakkannavari Palli of Vempally Mandal in YSR district. It will produce 3314.93 million units of power every year and provide employment to 1500 persons. It will start the works in December 2024.
Hero Future Energies’ affiliated company Clean Renewable Energy will set up a 225 MW solar unit at Kotapadu in Nandyala district and 150 MW wind power units at Boyala Uppuluru in Anantapur district and in Nandyal and YSR districts.
The Company will invest Rs.2450 crore and start work in October 2023 completing the last phase in 2025 and providing employment to 375 persons.
The SIBP also approved setting up a hotel and resort at Annavaram in Visakhapatnam district by May Fair Hotels with an investment of Rs 525 crore providing direct and indirect employment to 750 persons. The hotel project, consisting of villas, shopping mall and golf course, will be completed in four years.
It has also approved the proposal of Hayat Group to set up Hayat International Hotel at Peruru near Tirupati with an investment of Rs 218 crore providing direct employment to 260 persons and indirect employment to 1296 persons. It will be completed in three years.
CCL Food and Beverages got the green signal to set up its unit at Krishnapalem near Achtutapuram in Visakhapatnam district with an investment of Rs.1200 crore providing employment to 1800 persons.
The SIPB also approved proposals of CCL Food and Beverages to set up its unit at Varadayapalem in Tirupati District with an investment of Rs. 400 crore and it will provide direct and indirect employment to 950 persons and benefit 2500 farmers growing coffee. It will produce 16000 tons of coffee every year.
Gokul Agro Resources will set up an edible oil making unit at Krishnapatham in Nellore district with an investment of Rs. 230crore. It will provide direct and indirect employment to 1200 persons, besides benefiting 2500 farmers.
Gokul Agro will also set up coco butter and powder making unit at Sri City in Tirupati district with an investment of Rs.168crore providing direct employment to 250 persons and indirect employment to 800 persons, besides benefiting 3000 farmers.
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