Andhra Pradesh investment board clears Rs 1.10 trn proposal of NTPC for new energy park

Amarvati, Feb 8 (KNN) The Andhra Pradesh State Investment Promotion Board (SIPB) on Tuesday cleared the NTPC project for setting up a New Energy Park at Pudimadaka in Anakapalli district to produce green hydrogen, green ammonia, green methanol and hydrogen with a total investment of Rs 1,10,000 crore in two phases.

The SIPB meeting headed by Chief Minister Y.S. Jagan Mohan Reddy approved proposals worth more than Rs1,44,000 crore for establishing several heavy industries in the State.

The first and second phases of the park would be completed by 2027 and 2033 respectively. It is expected to create employment opportunity for over 61,000 people.

The investments proposals have been approved ahead of the upcoming Global Investors’ Summit-2023 that is scheduled to be organised in Visakhapatnam on March 3 and 4.

During the meet, the chief minister asked the officials to ensure that 75 per cent of the jobs in all the emerging industries were given to the local residents as per the law enacted.

As per reports, the state government will also be setting up a state-of-the-art IT Park at Bhogapuram, near Visakhapatnam, in an area of 90 acres.

Amongst the cleared projects include Rs 498.84 crore ethanol manufacturing unit by Avisa Foods and Fuels, two factories at Sri Kalahasti and Punganur to manufacture ferro alloys and DI pipes by Electro Steel Casting Ltd, amongst others.

Ecoren Energy India Pvt Ltd would set up wind and solar power projects with 1,000 MW capacity each in Anantapur, Sri Sathya Sai, Nandyala and Kurnool districts in four phases with an investment of Rs 10,500 crore.

The Vizag Tech Park Ltd would also establish a 100 MW Data Centre at Kapuluppada in three years with an investment of Rs7, 210 crore by setting up a 10 MW capacity unit in the first phase.

Deputy Chief Minister (Panchayat Raj and Rural Development) B. Muthyala Naidu; Minister for Finance Buggana Rajendranath; Industries Minister G. Amarnath; Agriculture Minister Kakani Govardhan Reddy; Minister for Municipal Administration A. Suresh were amongst those who attended the meet.  (KNN Bureau)