Hyderabad, February 28: The State made a giant leap in the industrial map of the country, when Chief Minister N. Kiran Kumar Reddy cleared industrial investment worth Rs. 25,672 crore on a single day last week at the State Investment Promotion Board meeting.
Employment potential
He cleared 25 units with an employment potential of 41,406 that is expected to bring revenue to the Government through the Value Added Tax (VAT) of Rs. 878.30 crore annually.
Officials informed the Chief Minister at the meeting that investments worth Rs.3, 07,178 crore are either under implementation or in the pipeline.
These include Bharat Dynamics Limited and Bharat Electronics Limited units at Anantapur for manufacturing missiles, NTPV-BHEL power plant equipment project at Mannavaram near Srikalahasti in Chittoor district.
New industries
The new industries cleared by the SIPB are in the categories of Food & Agro (5 units), Automobile (3), Cement (7), Glass (1), Steel and Ferro Alloy (5), Mineral (sand), chemical, ceramic, tyres one each spread in 14 East Godavari, Krishna, Nellore, Srikakulam, Vizianagaram, West Godavari, Anantapur, Chittoor, Kadapa, Kurnool, Adilabad, Mahbubnagar, Medak and Nalgonda.
A press release from the Chief Minister’s office said the investments in the pipeline include Rs.50,000 crore in the next four years.
Six Public Sector Undertakings have already submitted proposals to the government for investing Rs.44, 800 crore. The HPCL has decided to develop refinery complex at Visakhapatnam by investing Rs.40,000 crore. This project is being set up in the PCPIR.
The BHEL-BEL jointly are jointly proposed to set up Solar PV Modules Unit at a cost of Rs.2,000 crore in the FAB city and already submitted necessary proposals to the Government. BDL will set up missile units each at Ibrahimpatnam in Ranga Reddy and Chilamattur in Anantapur district.
Chief Minister said the ultimate objective of his Government was to make Andhra Pradesh as number one industrialised State surpassing developed States like Gujarat, Maharashtra, Tamil Nadu and Karnataka.
-Agencies