AP Govt approved 6 investment proposals

Amaravati, June 14: The Andhra Pradesh Government has approved the 6 investment proposals worth of Rs. 3,808 crores here on Tuesday.

The State Investment Promotion Board (SIPB) has clear the proposals of the companies include the KCP Limited, Chettinad Cement Corporation Pvt. Ltd, Rain Group, Mohan Spintex India Limited, Indo Count Industries Limited and Vishwa Apparels.

These companies were expected to generate 5,325 jobs.

The SIPB met under the chairmanship of Chief Minister N. Chandrababu Naidu here to clear the proposals.

The KCP Limited would invest Rs. 531.61 crore in the next five years to set up a cement manufacturing unit at Muktyala village in the Jaggayapet Mandal of Krishna district. The unit would provide direct employment to 100 people, and indirect employment to 1,900.

The company is expecting a turnover of Rs. 174.14 crore by the first year and Rs. 403.01 crore by the fifth.

The Chettinad Cement Corporation Private Limited would invest Rs. 1,350 crore on a cement grinding unit in Visakhapatnam and a cement manufacturing unit in Guntur district.The company would go for commercial production in March 2019 and provide employment to 1,250 people.

The Rain Group would invest Rs. 1,046 crore to set up a Calcined Petroleum Coke Plant, Cement Grinding Unit, R&D Facility and Waste Heat Recovery Power Plant at the Atchutapuram SEZ in Visakhapatnam district on 80.33 acres.

The Indo Count Industries Limited would invest Rs. 250 crore.

The Vishwa Apparels would launch its unit in Chittoor.