AP approves four mega project proposals

The Andhra Pradesh State Investment Promotion Board (SIPB) has approved four mega-industrial projects with a total proposed investment of Rs.26,630 crore. The Essel-GCL consortium alone has proposed an investment of Rs.21,300 crore on a solar panel manufacturing project in Chittoor district. The other big investment proposal came from the Anil Dhirubhai Ambani Group´s Reliance Defence, which has proposed to invest Rs.5,000 crore for the establishment of a shipbuilding unit in Visakhapatnam. Both companies had signed separate Memorandums of Understanding with the state government for their respective projects at the CII Partnership Summit in January at Visakhapatnam. Among the other two approved projects, an electronic manufacturing unit will be set up by Dixon Technologies India Private Limited in Chittoor district with an investment of Rs.150 crore. Gokaldas Exports has proposed to set up a garment manufacturing unit at an investment of Rs.180 crore in Anantapur district. In addition to these projects, the SIPB, headed by Chief Minister N Chandrababu Naidu, has also approved projects worth `2,000 crore under other categories, according to a government statement.