Hyderabad, February 24: The State Investment Promotion Board (SIPB) on Wednesday cleared a proposal for establishment and expansion of 25 industries with an investment of about Rs 25,672.43 crores.
These industries are projected to provide direct employment to about 41,400 persons, while another 1.2 lakh jobs are expected to be created through indirect employment.
Further, the state is likely to earn revenue of Rs 878 crore through VAT.
At the meeting of the Board, chaired by chief minister N Kiran Kumar Reddy here on Wednesday, the proposals were cleared for establishment and expansion of seven units in the cement sector, five companies each in the food and agro sector and the steel and ferro alloy sector, three in the automobile sector, one unit each in the glass, mineral (sand), ceramic, chemical and tyres sectors in 14 districts of the state.
Some of the renowned companies among them include Mahindra and Mahindra at Zaheerabad in Medak, Royal Enfield at Sri City Doemstic Tariff Zone in Chittoor, Krishnapatnam Oils and Fats Private Limited in Nellore, JSW Cement in Kurnool, KCP Limited at Muktyala in Krishna distict, NCL Industries Limited in Nalgonda, Hinduja Foundries in Medak and Dalmia Cement Limited in Kadapa district.
Major Industries minister J Geeta Reddy, Textiles minister P Shanker Rao, chief secretary SV Prasad and other senior officials of various departments attended the meeting.
–Agencies