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Andhra Govt approves Rs 21 bn investment for industries

Nov 19, 2021
Andhra Govt approves Rs 21 bn investment for industries

Vijayawada

The State Investment Promotion Board (SIPB), which met under the chairmanship of Chief Minister YS Jagan Mohan Reddy on Tuesday, gave its approval to five major industries with a total investment of Rs 21.34 billion.

As many as 7,683 people will get direct employment with the establishment of the industries. 

Century Plyboards India will set up a plywood unit at Badvel with an investment of Rs 9.56 billion, providing direct employment to 2,266 people. According to officials, the establishment of the plywood unit will immensely benefit farmers of the region as Century Plyboards has come forward to purchase eucalyptus wood grown in 22,500 acres.    

Grasim Industries will set up a chemical unit in East Godavari district with an investment of Rs 8.61 billion, generating direct employment for 405 people. SIPB gave its nod for the chemical unit only after the company withdrew its plan to set up a thermal power unit in the district, which was strongly opposed by locals.

Aditya Birla Fashion and Retail Ltd will set up a garment manufacturing unit at Pulivendula with an investment of Rs 1.10 billion, providing direct employment to 2,112 people.

In Kopparthi EMC, AIL Dixon Technologies Pvt Ltd will set up two units, including a camera manufacturing unit, with an investment of Rs 1.27 billion, providing direct employment to 1,800 people. The other unit will produce computers and tablets and provide employment to 1,100 people.

 Image Source: Google Images

Source: The New Indian Express

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