Andhra Pradesh government has claimed it has attracted substantial investments in core sectors. According to a press release, in the last two and half years, 375 projects worth investments of Rs 3,31,650 cores have been identified. Out of these, 253 are in advanced stage and for the remaining 55 projects land has been allotted.
If the 375 projects are set up it would provide employment to 7,77,043 people. Investors are willing to invest in solar, electronics, textiles and food processing units.
The new innovative industrial policy (2015-20) has started to yield results. The single desk clearance policy and other proactive measures by the government is turning AP into a investment destination.
The government today approved four new mega industrial projects which would provide employment to 53,100 people.
SIPB meeting held on 28th Oct 2016, under the Chairmanship of the Chief Minister, approved for setting up of electronics manufacturing unit by Dixon Technologies Pvt Ltd, ship building unit by Reliance Defence and Engineering Limited, garment unit by Gokaldas exports limited and solar manufacturing units by Eaasel GCL consortium with a total investment of Rs 26,630 Crore creating direct employment for 39,900 people and indirect employment for 13,200 people.
In addition to the above, the Committee approved a framework for approving industrial proposals of investors who are located in other states and intend to expand their business in Andhra Pradesh.
Under this category, three units have been granted permission to set up their units with a total investment of Rs 2,000 crores. United seamless Tubular Pvt Ltd, Kamineni Steel & Power Ltd and Oil & Country Tubular Ltd Pvt have been given permission to set up manufacturing units for the producing of alloy steel, pipes, steel billet plant and tubular goods. This would provide employment for 300 people.
The Committee approved Land Allocation Requests of 3 Food Processing Projects Vyshnavi Mega Food Park Pvt Ltd, Hatsun Agro Product and Sri Varsha Integrated Food Park Pvt Ltd with a combined total investment of Rs 295 Crore and employment for 6,700 persons.
The Committee also approved supplementary incentives requested by Texport Industries Pvt Ltd, Britannia Industries Limited, Jain Irrigation Systems Limited and Indani Global Pvt Ltd.