4 new companies receive APSIPB's nod for setting up units in AP
New Delhi, Nov 14 (KNN) The Andhra Pradesh State Investment Promotion Board (APSIPB) gave approval for setting up four new companies with an investment of Rs 4,000 crore to generate employment opportunity for nearly 20,000 people.
The 4 companies that received the approval from the APSIPB are Arvind Mills green field integrated textile plant, THK, a leading Japanese manufacturer of Linear motion equipment manufacturing company, Doowon Climate Control India Pvt Ltd and Saint Gobain, world leader in habitat and construction markets.
The Arvind Mills green field integrated textile plant will set up a plant for the first time outside Gujarat i.e in Kuppam in Andhra Pradesh with an investment of Rs 700 crore.
The textile plant has the capacity to manufacture 24 million garments per annum and 24 million fabric annually.
It will provide direct employment to 9300 and 80% of them will be women.
The THK, a leading Japanese manufacturer of linear motion equipment manufacturing company will set up a manufacturing facility in Sri City, Chittoor. It will be its first plant in India in Andhra Pradesh that will provide employment to over 600 people with an investment of Rs 800 crore.
This facility will provide a fillip to machine tool industry in India by providing components essential to increased precision, rigidity, speed and energy efficiency.
In addition, the International Flavours and Fragrances India Pvt Ltd is ready to set up its base at Chittoor at a cost of Rs 525 crore, generating employment for 450 persons.
The Doowon Climate Control India Pvt Ltd will establish ancillary units for Kia motors at Anantapur with an investment of Rs 210 crore with employment potential of 350.The Dong – A Hwasung India Pvt Ltd is also ready to set up ancillaries of Kia Motors at Anantapur with an investment of Rs 35 crore.
Saint Gobain, world leader in habitat and construction markets will set up its unit in Atchutapuram in Visakhaptnam district with an investment of Rs 2000 crore for plasterboard, gypsum and glass manufacturing with an annual capacity of 11 lakh metric tonnes.
This unit will employ 1300 workers and will build an ecosystem and funnels the entire value chain of gypsum and glass based products. The Saint Gobain will
Secretary of Industries Arokya Raj explained on various stages of industrialisation in the state.
Minister for Industries N Amaranatha Reddy, Principal Secretary of Infrastructure and investments Ajay Jain and others were present.
The SIPB meeting was chaired by N Chandrababu Naidu where he asked the board to attract more number of industries to provide employment opportunities to local youth.
Earlier Economic Development Board CEO Jasti Krishna Kishore explained on the performance of companies coming forward to set up units in Andhra Pradesh.
He said several other industries are also evince interest to open their units in Andhra Pradesh.