Chief Minister Chandrababu Naidu has approved the establishment of 9 more projects in the state with an investment of Rs. 1,82,162 crore. These will provide employment opportunities to 2,63,411 people.
He directed that infrastructure, including land allotment, should be provided to the companies coming in large numbers to make huge investments in the state at the earliest. He said that the projects should be completed within the stipulated time as per the agreement.
The CM made it clear that the state government should attract more investments through the subsidies and incentives being given to the industrial sector. The Chief Minister approved 9 projects to be set up by various companies in the state at the State Investors Promotion Board (SIPB) meeting held under his chairmanship.
Bharat Petroleum Corporation Limited (BPCL) will set up a huge refinery in Ramayapatnam, Nellore district, with an investment of Rs. 96,862 crore. This will provide employment to 2,400 people.
The project, which will come up in five blocks with a total capacity of 9 million metric tons, will include a township, learning center, refinery, petrochemical units, crude oil terminal, green H2, and administration blocks. Officials said that the state will earn a revenue of Rs. 88,747 crore through this project in the next 20 years. The Chief Minister directed the officials to ensure that the entire project is completed by 2029.
Tata Consultancy Services (TCS) will invest Rs. 80 crore in an area of 2,08,280 square feet in Millennium Towers in Visakhapatnam. This will create jobs for 2,000 people. Azad Mobility India Limited will set up a green project of electric three-wheeler trucks, buses, and battery packs in 70.71 acres in Gudipalli, Sri Sathya Sai district, to be completed in three phases in the next six years.
For this, the company will invest Rs. 1,046 crore. It will provide employment to 2,381 people. Balaji Action Buildwell Private Limited will set up an MDF or particle board plant manufacturing unit on 106 acres in Rambilli, Anakapalle district, with an investment of Rs. 1,174 crore, providing employment to 1,500 people.
