Soon, AP to get its 1st gold refinery
Andhra Pradesh will get its first gold refinery in Krishna district and an aerospace cluster in Anantapur soon. These are part of the nine major investment proposals worth Rs 7,330 crore cleared by the AP State Investment Promotion Board (SIPB) headed by chief minister Chandrababu Naidu. These units will generate 10,045 jobs in the state.
The SIPB decided to give a special package of incentives to these units. They will be eligible for reimbursement of 100 per cent net VATCST for a period of seven years from the date of commencement of commercial production.
The government will also support them with infrastructure facilities. Some of the firms have not taken land from the government.
They purchased land from private persons.
The projects are spread across sectors like chemical, fibre, food processing, industrial park and renewable energy equipment covering Chittoor, Anantapur, Krishna, Nellore, Visakhapatnam, West Godavari and Vizianagaram districts.
SIPB member and information minister Palle Raghunath Reddy said that the projects would materialise in two years. “The Board will clear a few more projects soon,“ he added.
The gold refinery will be set up by Indani Global Private Ltd in Krishna district at a cost of Rs 87 crore. There are 32 gold refineries in India of which 27 process ore or unrefined gold. The purified gold will be supplied to jewellery units.
Arrow Cables (India) Ltd will invest Rs 510 crore in Krishna district. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will provide land to the company.These two companies will together generate about 500 jobs in Krishna district.
According to officials, Bharat Forge Ltd will build an au tomotive industrial park at a cost of Rs 1,400 crore. It will create 3,645 direct jobs. The APIIC allotted land to the unit in Nellore district.
The major beneficiary of these proposals will be the backward Anantapur district, where an aerospace and defence cluster will be set up.
Enlivening Technologies Pvt Ltd will invest Rs 570 crore to provide 650 jobs.
Another major unit in the district will be set up by Suzlon Energy Ltd, which will produce renewable energy equipments like solar panels and blades for wind turbines at a cost of Rs 545 crore. It will create 2,500 jobs. Around 2,000 jobs will be created in Vizianagaram with the setting up of an industrial park by Kothavalasa Infra Ventures Pvt Limited at an investment of Rs 2,000 crore.
Greenply Industries Ltd in Chittoor district will set up a unit at a cost of Rs 758 crore.
The company will produce medium density fibre board.The CCL Products (India) Ltd will set up a unit in Chittoor district with an investment of Rs 260 crore.
Deccan Fine Chemicals Pvt Ltd will set up a chemical unit at a cost of Rs 1,200 crore in Visakhapatnam to create 400 jobs. This is a joint venture with Japan’s Mitsubishi.
eenadu news paper 29-05-2016 : http://epaper.eenadu.net