Andhra Pradesh Clears Investment proposals worth INR 3,808 Crores

The State Investment Promotion Board (SIPB) leaded by Chief Minister N. Chandrababu Naidu on Tuesday has cleared six investment proposals worth of INR 3,808 Crores. The companies whose proposals were cleared are Chettinad Cement Corporation Pvt. Ltd, KCP Ltd, Mohan Spintex India Ltd, Rain Group, Vishwaa Apparels and Indo Count Industries Ltd, according to a press statement from CM's office. The Chettinad Cement proposed for the investment of INR 1,350 Crores and to set up cement grinding units and cement manufacturing plants at Gytulapalem, Tallapalem, Pedagarlapadu village in Guntur district and at Narasapuram village in Visakahpatanam district. This project will start its commercial production from March 2019, and is expected to provide employment to 1,250 people.

And KCP Ltd with an investment of INR 531.61 Crores proposes to setup a cement manufacturing unit on 100 acres at Muktyala village in Krishna district. And estimated to create direct employment to about 100 people and indirect employment to 1,900. A total of 1,569 are being tracked by 17 departments with a committed investment of INR 16,87,845 Crores in Andhra Pradesh. Out of the total projects, 343 have gone into the production stage.