Projects worth Rs. 26,630 crore cleared in State.

The State government recently approved four mega industrial projects with an investment of Rs. 26,630 crore and employment potential of 53,100.

In the State Investment Promotion Board meeting held here under the chairmanship of Chief Minister N. Chandrababu Naidu, solar manufacturing units by Eaasel GCL Consortium at Chittoor with a combined investment of Rs.21,300 crore had been cleared.

The other projects are Reliance Defence and Engineering Limited shipbuilding unit at Visakhapatnam (Rs. 5,000 crore), Gokaldas Exports Limited’s garment unit (Rs. 180 crore) at Anantapur and Dixon Technologies Pvt. Ltd’s electronics manufacturing unit at Chittoor (Rs. 150 crore). The SIPB also approved a framework for clearing the proposals of investors located in other States.

Under this category, three units had been granted permission to set up units with an investment of Rs. 2,000 crore.

These companies are the United Seamless Tubular Pvt Ltd., Kamineni Steel & Power Ltd and Oil & Country Tubular Pvt. Ltd.

They are into manufacturing of alloy steel, pipes, steel billets and tubular goods.

An official release said 375 projects with investments amounting to Rs. 3,31,650 crore had been identified in the last two-and-a-half years. Of them, 253 are at an advanced stage and for the remaining 55 projects, land had been allotted.

The Chief Minister said the Rs. 350 crore given by the Central government to the backward districts of Rayalaseema and north costal Andhra Pradesh should be spent on basic amenities only in those districts.

Investors willing to put their money in tourism sector should be provided special subsidies and incentives as the sector had not been able to attract enough investments lately.

THE HINDU