SIPB clears investment proposals worth Rs.53,922 crore in AP

The 10th State Investment Promotion Board (SIPB) held under the chairmanship of Chief Minister N Chandrababu Naidu has approved investments to a tune of Rs 53,922 crore of 30 projects aimed to provide employment to 83,437 youth.

Some of the important investments approved in SIPB meeting on Thursday evening include HFCL Rs 1197 cr at Madakasira to provide employment to 870 people, Apollo tyres Rs 1110 cr in Chittoor district to provide employment to 500 people, Dhirubhai Ambani Green Tech park in Krishnapatnam Rs 1843 cr to provide employment to 19000 people, Serentika Renewables of India Rs 2000 Cr in Anantapur to provide employment to 320 people.

Stating that he will monitor the progress of projects every month, the Chief Minister asked the Ministers to personally monitor the grounding and progress of projects at field level. He said officials should focus on the success of speed of doing business policy being adopted in the state. He said that he is making efforts to get the Mahindra Electrical Vehicle plant for Andhra Pradesh and officials should also work with the same spirit.

Stating that there is a vast chance for developing the food processing industry in Andhra Pradesh, the Chief Minister asked the officials to initiate steps to discuss with food processing companies to set up their units in different parts of the state. He said the development of horticulture in both Chittoor and Rayalaseema and mango processing companies in Chittoor district are benefiting farmers in a big way.

The Chief Minister stressed the need for developing an eco system to develop MSME parks as business centres and said MSME parks should be developed in all the assembly constituencies. He suggested linking MSMEs to Ratan Tata Innovation Hubs to improve quality of products.the Chief Minister