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Home arrow Aerospace arrow Andhra Pradesh SIPB clears 25 proposals totalling Rs.25,672.40 crores
Andhra Pradesh SIPB clears 25 proposals totalling Rs.25,672.40 crores Print E-mail
Written by Subash   
Tuesday, 01 March 2011
Hyderabad: Andhra Pradesh Chief Minister, N Kiran Kumar Reddy, cleared industrial investment proposals totalling Rs.25,672.40 crores at the State Investment Promotion Board meeting on Wednesday. According to government officials all these units are expected to be commissioned by the end of 2012. The 25 new units cleared by the Chief Minister and SIPB will be spread over 14 districts.

Six PSUs have already submitted proposals to the government for investing Rs.44,800 crore. The Industries officials informed that this amount may further increase.

The Industries which got final clearance from the SIPB include Mahindra & Mahindra at Zaheerabad, Medak District; Royal Enfield, Sri City, Domestic Tariff Zone, Chittoor District;  Sathavahana Ispat Limited, Anantapur District; NCL Industries Limited, Nalgonda District; AGI Glasspac, Nalgonda District; Anand Shree Steels Pvt. Limited, Mahabubnagar District; Sarda Metals & Alloys Ltd., Vizianagaram District; SBQ Steels Ltd., SPS Nellore District; Maa Mahamaya Industries Ltd., Vizianagaram District; TMT Tyres Pvt Ltd., Nellore District; Hinduja Foundries, Medak District.

The new Industries cleared by the SIPB are in the categories of Automobile (3), Cement (7), Glass (1), Steel and Ferro Alloy (5), Mineral (sand) (1), Chemical (1), Food &Agro (5), Ceramic (1) and Tyres (1) spread over 14 districts.

PSUs

- BHEL and BEL have jointly proposed to set up a Solar PV Modules Unit at a cost of Rs.2,000 crore in the FAB city.

- BDL already expressed interest to set up two units in the State. It will set up missile units at Ibrahimpatnam in Ranga Reddy and  at Chilamattur in Anantapur district at a cost of Rs.500 crore each. It sought 438 acres and 634 acres for these units respectively.  Around 5,000 persons would get employment under these units, the Industries officials said.

- HAL has also come forward to set up Helicopters manufacturing unit at a cost of Rs.625 crore.

- ECIL has is also setting up electronic equipment manufacturing unit at a cost of Rs.500 crore.

- BEL also proposed to set up Radar Testing Unit in 1,000 acres at Palasamudram of Anantapur. According to officials, it is estimated that the investment for this would be around Rs.675 crore.

- The NTPC-BHEL JV is setting up a power equipment manufacturing unit at Mannavaram in Chittoor district at a cost of Rs.6,000 crore.

- HPCL has decided to develop refinery complex at Visakhapatnam by investing Rs.40,000 crore. This project is being set up in the PCPIR.

Officials said that the latest industrial policy envisages to achieve a manufacturing growth rate of about 17%; create additional employment to over 5 lakh persons per year -- 2 lakh directly and 3 lakh indirectly; with special focus on Micro, Small and Medium Enterprises (MSMEs) and Food Processing; facilitate reduction of regional and sub-sector imbalances; leverage the existing sectoral strengths as well as the natural resources for value addition.

The Chief Minister ordered that the incentives due (reimbursements of VAT etc) to the new units should be cleared at the earliest. The State is expected to get a total VAT of Rs.878.00 crores. SIPB agreed to exempt the new industrial units form payment of Electricity duty on captive power generation for self consumption.

 
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