AP clears desk for key projects; CM Naidu pitches for stable industrialization

NewsBharati    08-Mar-2019

 

Amaravati, Mar 8: Ahead of the crucial Lok Sabha and state assembly election, Andhra Pradesh government on Thursday cleared the desk for seven key industrial ventures.

Chief Minister Nara Chandra Babu Naidu in a meeting with the officials of Andhra Pradesh State Investment Promotion Board (APEDB )approved the mega projects worth Rs. 2,840.99 Cr. On this occasion, IT Minister Nara Lokesh, APEDB CEO J Krishna Kishore, and other officials were present.

Addressing the meeting, Naidu pitched for the expansion of the Service sector in the state. The Chief Minister asked concern departments to focus on MSME sector. He suggested that sectors like hardware related services, village tourism, and Food processing should be developed in a big way.

According to Naidu, the coastal state post bifurcation has done a phenomenal job on various fronts and achieved the growth rate of11.02% for the year 2018-19 whereas the national rate is 7%. “ AP has outperformed other States in many aspects of growth and development despite the challenges caused by bifurcation. We are the only State in the country to have consistently achieved a double-digit growth rate for 4 consecutive years,” he claimed.

The sanctioned project are :

Walsin Electronic India Pvt Ltd plans to set up an electronics manufacturing unit in Tirupati with an investment of Rs. 734.47 Cr that will provide employment to 1,026 people.

GM Modular Pvt Ltd plants to set up an electronics manufacturing unit in Tirupati with an investment of Rs. 133.65 Cr that will provide employment to 2,230 people.

Tecchren Batteries Pvt Ltd plants to set up an electronics manufacturing unit in Sri City, Chittoor with an investment of Rs. 445.86 Cr that will provide employment to 200 people.

 Veer O Metals Pvt Ltd plans to set up an electronics manufacturing unit in Gudipalle, Anantapur at a cost of Rs. 41.94 Cr that will provide employment to 240 people.

 The Wingtech Mobile Communications (India) Pvt Ltd plans to set up an electronics manufacturing unit in Tirupati at a cost of Rs. 1,031.07 Cr that will provide employment opportunities to 10,098 people.