AP clears 6 proposals with a total investment of Rs. 2,003 crore.

The State Investment Promotion Board (SIPB) of Andhra Pradesh, headed by chief minister N Chandrababu Naidu, today approved six proposals having a combined investment of Rs. 2,003.65 crore. The SIPB clears the investments while granting various incentives available under the industrial policy and beyond, depending on the nature and size of the project.

The largest among these proposals is a greenfield manufacturing facility by Hyderabad-based pharmaceutical company Divi’s Laboratories Limited in East Godavari district. The company proposed an investment of Rs 789 crore with a potential to provide direct and indirect employment to 4,800 people. The state government had already cleared the land allotment for Divi's project.

Others include, a proposal by Jain Irrigation Systems Limited to invest Rs. 365 crore in an integrated food park in Kurnool district. The project will replicate Jain Irrigation’s Jalgaon model wherein the park will cater to the agriculture sector, the micro irrigation industry, food processing industry and other allied technology intensive sectors such as renewable energy and tissue culture, according to the industries department.

The SIPB also cleared two investments in the textile sector. Mohan Spintex, a homegrown company based in Krishna district is planning to set up a composite textile unit, including garments, with an investment of Rs. 289.2 crore. Bangalore-based Indian Designs is setting up a garmenting unit with an investment of Rs. 33.5 crore at Parigi in Anantapur district, the department said.

BS