SIPB stamp for Rs 7.5k cr Jindal Steel Plant in Nellore – The New Indian Express
VIJAYAWADA: The State Investment Promotion Board (SIPB) has approved investment proposals to the tune of Rs 14,000 crore. The SIPB also approved the allocation of 860 acres of land to Jindal Steel Andhra Limited to set up an integrated steel plant in Nellore district with an expenditure of Rs 7,500 crore. The steel plant with an annual production capacity of 2.25 million tonnes will provide direct employment to 2,500 people in four years. The land for the steelworks has been allocated to Momidi in Chillakur Mandal.
The SIPB meeting, held on Tuesday under the chairmanship of Chief Minister YS Jagan Mohan Reddy in his camp office, cleared five industrial investment proposals, which will generate 25,000 jobs. The SIPB has also given the green light to Pitti Rail and Engineering Components Ltd to produce electrical, locomotive and industrial infrastructure with an investment of Rs 401 crore in Kopparthi near Kadapa. The unit will provide employment for 2,000 people. Nilkamal Limited’s proposal to invest Rs 486 crore to produce furniture and housewares in Kopparthi, also got SIPB approval.
The unit will generate direct jobs for 2,030 people. The SIPB also gave its approval to the expansion of Greentech Industries in Naidupet, which supplies steel and iron products to companies such as Ford, Hyundai, Volkswagen and others. Greentech, which had already invested Rs 750 crore, will invest Rs 627 crore more for the expansion of the unit. It will provide additional direct jobs to 2,200 people.
Ammayapper Textiles Pvt Ltd’s proposal to invest Rs 30 crore in Chittoor district was also approved. It will provide direct employment to 2,304 people. The unit, which produces men’s and children’s clothing, will provide 90 percent of the jobs for women. The SIPB has also given the go-ahead for a five-acre textile and clothing retail mega park in Tadepalli in Guntur district with an investment of Rs 194.16 crore.
The park will house 900 business units and create direct jobs for nearly 5,000 people and indirect jobs for 20,000 people. It is estimated that 70 percent of textiles and clothing made in the state will be sold from the park. Each store in the park is expected to make a deal of Rs 11 crore. The SIPB has also extended the installation deadline of Saint Gobain Industry at Atchyutapuram in the district of Visakhapatnam to June 2022.
The company, which came forward to invest Rs 2,001 crore in three phases, had requested an extension of the time limit for setting up the unit due to the Covid pandemic. While giving the approvals, the chief minister made it clear that 75 percent of jobs in the proposed industries should be allocated to locals and that they should also focus on environmental protection. Deputy Chief Minister (Revenue) Dharmana Krishna Das, Minister of Finance Buggana Rajendranath, Minister of Industry Mekapati Goutham Reddy, other ministers and Chief Secretary Aditya Nath Das and officials were present.
25,000 jobs to be created in the state