Amaravati, Nov 4 (KNN) The Andhra Pradesh government has approved the new land allotment policy for industries.

The cabinet meeting chaired by Chief Minister Y.S. Jagan Mohan Reddy at the Secretariat at Velagapudi, decided to implement the sale deed system and do away with the lease system in vogue currently. 

The allotment, however, would come with a rider that the extent of land should be used only for setting up industries.

The state cabinet took decision with the aim to facilitate entrepreneurs to avail themselves of loans from the financial institutions.

The Cabinet also ratified the Andhra Pradesh State Investment Promotion Board’s (SIPB) approval of investments worth Rs Rs 19,037 crore, which would provide employment opportunities to 69,565 people.

At the meeting, the Cabinet approved the setting up of the Hydrogen Green Hub there. The NTPC would invest Rs 95,000 crore on the project.

The Cabinet cleared the APIIC proposal, which says that more investments would flow into the State with the setting up of the Green Hydrogen Hub.

Other approved projects include proposal to allot 5,400 acres of land to Ecoren Energy India Ltd, proposal for establishing 800-MW wind energy plant and many more.

(KNN Bureau)