SIBP clears 2,840 cr worth projects

Amaravati: The AP State Investment Promotion Board (APSIPB) chaired by Chief Minister N Chandrababu Naidu cleared seven projects to be set up in AP with an investment of Rs 2,840.99 crore. The SIPB meeting was held at the residence of Chief Minister here on Thursday.

Speaking on the occasion, the Chief Minister said that service sector should be improved further. He also said food processing industry should be developed in a big way and officials should achieve stability in industrialisation in the state.

He said that there was a vast scope for development of MSMEs (micro, small and medium enterprises), hardware and service sectors. He said tourism, including village tourism should be promoted.

The projects cleared by the SIPB include Walsin Electronic India Pvt Ltd, which plans to set up electronics manufacturing unit in Tirupati with an
investment of Rs 734.47 crore providing employment to 1,026 people.

The GM Modular Pvt Ltd is going to set up a electronics manufacturing unit in Tirupati with an investment of Rs 133.65 crore providing
employment with an employment potential of 2,230 jobs.

Tecchren Batteries Pvt Ltd proposes to set up a electronics manufacturing unit in Sri City in Chittoor district with an investment of Rs 445.86 crore to provide jobs to 200 people.

Veer O Metals Pvt Ltd will establish electronics manufacturing unit at Gudipalle in Anantapur district at a cost of Rs 41.94 crore with employment potential of 240 jobs.

The Wingtech Mobile Communications (India) Pvt Ltd plans to set up electronics manufacturing unit in Tirupati at a cost of Rs 1,031.07 crore providing employment to 10,098 people.

The Indus Coffee Ltd is going to set up freezer-dried coffee for export purpose at SEZ, Naidupet at a cost of Rs 304 crore providing employment to 300 people.

IT minister Nara Lokesh, principal secretary to government IT & communications K Vijayanand, secretary to CM Girija Sankar, APEDB
CEO J Krishna Kishore were present.