Amaravati, Sep 23 The Andhra Pradesh Cabinet headed by Chief Minister N Chandrababu Naidu on Wednesday approved investment proposals worth Rs 22,178 crore and the creation of four new police commissionerates.
The Cabinet approved the proposals greenlighted during the 21st meeting of the State Investment Promotion Board (SIPB), which have the potential to create 19,739 jobs.
“The Cabinet meeting held today approved investment proposals pertaining to various fields recommended by the SIPB. Investments totalling to Rs 22,177.8 crore were approved. Creation of four new commissionerates in Tirupati, Guntur, Kurnool and Rajahmundry to further strengthen law and order in the southern state were also approved,” an official release said.
The approved proposals are special incentives for MyHome Industries Pvt Ltd for setting up a greenfield cement manufacturing unit at Gamalapadu village in Palnadu district.
Likewise, the Cabinet approved special incentives for Caterpillar India Pvt Ltd (CIPL) under Andhra Pradesh Industrial Development Policy (4.0) to set up a greenfield facility at Sri City in Tirupati.
It greenlighted the allocation of 149 acres to Aggarwal Foundries Pvt Ltd to expand the integrated steel plant at Pennepalli village in Tirupati district.
Similarly, the Cabinet approved the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) to utilise the Rs 2,500-crore term loan sanctioned by Sagarmala Finance Corporation Ltd (SMFCL). This loan will be used for developing Mulapeta, Ramayapatnam, Naidupeta and Dugarajapatnam industrial clusters and other works.
Further, the Cabinet approved the Rs 1,549 crore Critical Infrastructure and Investment Plan (CIIP) for the greenfield capital city of Amaravati instead of the Rs 904 crore sanctioned earlier to develop infrastructure.
The Cabinet approved the recommendations of a Group of Ministers (GoM) on new proposals for land allocation and the review of earlier allocations under the purview of the Capital Region Development Authority (CRDA).
Similarly, it approved assembly building (super block E) construction works worth Rs 661 crore in Amaravati. It includes the construction of a spire, roof, slabs, beams, lifts, waterproofing and others.
It approved the allocation of five acres of land under lease at Krishnayapalem village in Amaravati to a private school, Nalanda Academy of Science and Technical Education, among other decisions.
(PTI News)
