Andhra: Investment Promotion Board approves Rs 53,922 crore investment projects

Amaravati, Aug 28 (IANS) Andhra Pradesh Investment Promotion Board on Thursday approved 30 projects involving investments to the tune of Rs 53,922 crore.

The 10th State Investment Promotion Board meeting presided over by Chief Minister N. Chandrababu Naidu approved the projects, which are expected to employ 83,437 youth.

Stating that he will monitor the progress of projects every month, the Chief Minister asked the ministers to personally monitor the grounding and progress of projects at the field level.

He said officials should focus on the success of the speed of doing business policy being adopted in the state.

Stating that he is making efforts to get the electric vehicle plant for Andhra Pradesh, he said officials should also work with the same spirit.

The Chief Minister said there was a vast opportunity for developing the food processing industry in Andhra Pradesh. He asked the officials to initiate steps to discuss with food processing companies to set up their units in different parts of the state.

He said the development of horticulture in both Chittoor and Rayalaseema and mango processing companies in Chittoor district were benefiting farmers in a big way.

The Chief Minister stressed the need for developing an ecosystem to develop MSME parks as business centres. He said MSME parks should be developed in all the assembly constituencies.

He suggested linking MSMEs to innovation hubs to improve the quality of products. He said the highest priority should be given to attracting investments and industries in the state, including in Information Technology, Tourism, Food processing, Mining and other sectors.

The Chief Minister said that the previous government acted in such a way to damage the sanctity of Tirumala by allotting a site to a hotel by the side of Tirumala hills, and immediately after coming to power, the NDA government showed an alternate site to protect the sentiments of devotees. Now the YCP leaders are resorting to false campaign on this issue, he alleged.

Some of the important investments approved in the SIPB meeting today include the project of Rs 1197 crore investment at Madakasira to employ 870 people,

Ministers Payyavula Kesav, Gottipati Ravikumar, TG Bharat, Anagani Satyaprasad, Vasamsetti Subhas and Chief Secretary K Vijayanand were present.

--IANS

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