HYDERABAD: Andhra Pradesh State Investment Promotion Board (SIPB) has approved the investment proposals of five industries with a total investment of Rs 2,134 crore. This investment proposal is expected to provide direct employment to 7,683 people in the state.
The five companies which proposed for investment include Aditya Birla Fashion and Retail Ltd which would invest a total of Rs 110 crore in a garments factory for blouses and trousers at Pulivendula, Kadapa district which will create an employment of 2,112 people. Century Plyboards India will also establish a plywood unit at Badvel with an investment of Rs 956 crore which will provide direct employment to 2,266 people. This will also benefit the farmers fetch Rs 315 crore as the company will purchase eucalyptus trees which grows in an extent of 22,500 acres in the area.
The SIPB meet, chaired by Chief Minister Y S Jagan Mohan Reddy on Tuesday, November 16, also cleared the manufacture of industrial chemicals factory in East Godavari district. Grasim Industries will also join the project with an investment of Rs 861 crore generating employment for 405.
AIL Dixon Technologies Pvt Ltd will also set up a camera manufacturing unit with an investment of Rs 127 crore providing employment to 1,800 people. It will also set up a computers and tablets manufacturing unit with an investment of Rs 80 crore and will employ 1,100 people, as per the official release.