SIPB meet under CM clears Rs 6,500 investment proposals Hyderabad, Jan 18 (INN): The State Investment Promotion Board (SIPB) which met under the chairmanship of Chief Minister N Krian Kumar Reddy today approved six major investment proposals with a total investment of Rs.6,500 crore with an employment potential for 18,500 people. These proposals include large multinational companies such as PepsiCo, Cadbury, Colgate, Johnson & Johnson, Gerdau Steels and ITC (Expansion).
Since 2011, Industrial investments to the tune of over Rs 2 lakh crore were cleared by the SIPB which provide employment of 4,38,823 which are in various stages of implementation.Ministers Anam Ramnarayan Reddy, Dr N Raghuveera Reddy, Pithani Satyanarayana, G. Prasad Kumar, Chief Secretary Dr P.K.Mohanty and other officials attended. Industries Commissioner Rajat Kumar, Special Chief Secretary (Energy) M Sahoo, APIIC MD Jayesh Ranjan, Principal Secertaries Pradeep Chandra (Industries), S..K.Joshi (Municipal Administration), B.Sam Bob (R&B), Adityanath Das (Irrigation), D.Sambasiva Rao (Finance) and B.R.Meena (Revenue) and other officials attended the meeting.
Many of these projects cleared today are of national importance. For instance, PepsiCo will be the largest beverages plant in the country with an investment of Rs.1,200 crore. Similarly, Johnson & Johnson, the “Fortune Top 10” company in the world has chosen to locate their facility in Telangana region (Mahabubnagar). Cadbury, World’s second
largest and India’s largest confectionary company is setting up their facility in Sri City with an investment of Rs.2,500 crore.
SIPB also discussed an exclusive policy for development of the Life Sciences sector in Andhra Pradesh. This policy aims US $ 13.5 billion market by 2019 with emphasis on Biotechnology, Medical Devices, Bio Services, Pharmaceuticals and Nutraceuticals.
This policy will lead to Rs.20,000 crs of new investment and 50,000 skilled employment besides augmenting exports to Rs.60,000 crore by 2019. The policy will be implemented in mission mode over a period of five ears. Number of initiatives has been proposed in the policy including promotion of infrastructure under PPP mode, setting up the Medical devices Park. The state will become a major attraction for the life sciences industry in the coming years.
Among the projects approved by SIPB since 2011, are 42 mega projects which have commenced operations with an investment of Rs.27,984 crore and created employment for 72,284 persons. Another 52 projects are under active implementation with an investment of Rs.92,437 crore providing employment for 1,65,594 persons, 36 projects are under initial stages with an investment of Rs.79,601 crore with a potential to create employment for 2,00,945 persons. These proposals include Proctor & Gamble, Hospira, MRF, US Gypsum, West Pharmaceutical packaging, Century Ply, Green Ply. Hospira, a global provider of Injectible drugs and infusion technologies, is setting up its largest
manufacturing unit in the world near Visakhapatnam. Similarly, US Gypsum Company the largest distributor of wallboard in the Unites States and the largest manufacturer of gypsum products in North America is setting up its first unit in the State. (INN)