SIPB clears Rs 3,000 Cr investments for AP
Hyderabad, Dec 9 (INN): The State Investment Promotion Board (SIPB) met under the chairmanship of Chief Minister N Chandrababu Naidu here on Tuesday.
The SIPB approved proposals worth Rs 3000 crores with a potential to create employment to 13,725 persons. These proposals include one paint manufacturing facility in Visakhapatnam by Asian Paints, India's largest and Asia's third largest paint company with an investment of Rs.1818 Crore to produce 4.0 Lakh KL/annum of paints. It will create employment to 700 people.
The Gujarat Ambuja Exports Limited (GAEL) project is another project cleared by SIPB. GAEL is a leading manufacture-cum-exporter of agro products and have large manufacturing units in others State like Gujarat, Maharashtra, Madhya Pradesh, Uttarakhand & Karnataka. This company proposes to set-up a Maize Processing unit in Kurnool District with an investment of Rs. 240 Crs with a capacity of 750 TPD.
The SIPB also cleared Universal Coke & Power Limited promoted by Shri Ram Ventures Limited, a part of US$ 11 Billion Shri Ram Group. The company proposes to set-up Non-recovery coke oven plant along with 35 MW Cogen power plant using waste heat generated from the non-recovery coke oven plant in Nellore district near Krishnapatnam port with an investment of Rs. 725 Crs and will create employment to 1525 persons.
With a view to attract Labour intensive industries, SIPB cleared four proposals of Shahi Exports Pvt Limited, which is one of the largest Garments export house in India. The company proposes to set-up four garmenting units in Kuppam, Palamaner, Hindupur and Chittoor with an investment of about Rs.150 Crs and will create huge employment to 11000 persons.
The SIPB also decided to include Biogas generation from waste in the zero rated (exemption) schedule of the VAT in order to encourage industries to go for gas generation / energy from waste as a part of Swachh Andhra campaign.
SIPB has decided to delegate powers to the District Collector for cancellation of the resolution (rejection) issued by the Grampanchayat and to issue exemption / deemed approval wherever Gram Panchayat reject the proposal on grounds of pollution even after the unit has secured valid MoEF / APPCB clearance.
News Posted: 10 December, 2014
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