Andhra govt clears investment proposals worth Rs 1.25 lakh crore

The Jaganmogan Reddy government in Andhra Pradesh has cleared investment proposals worth Rs 1,26,748 crore on Wednesday and these are expected to create 40,330 direct employment over the next seven years.

Chief Minister Reddy chaired the Andhra Pradesh Cabinet in which 57 important proposals were discussed and cleared. “The cabinet gave its nod to the investment proposals worth Rs 1,26,748 crore of the Andhra Pradesh State Investment Promotion Board (SIPB). The massive investments are expected to create 40,330 direct jobs over the next seven years,” an official statement said.

Of the total, Rs 81,000 crore would be invested in green energy projects that would generate 17,930 MW of power, the statement added. The cabinet has also cleared the SIPB approval of a proposal from Causis E-Mobility for an investment of Rs 386.23 crore on an electric bus-manufacturing unit at Kopparthy in the YSR district. The venture is expected to create over 1,200 jobs in Andhra Pradesh. During the meeting, the cabinet approved a 4% reservation for people with disabilities in job recruitment and promotion.

The cabinet has cleared the proposal to release funds under the Yeduguri Sandinti Rajasekhara Reddy (YSR) Cheyutha Scheme, which aims at equipping women of SC/ST/OBC/minorities. The financial benefit of Rs. 75,000 is to be provided over a period of four years for women under 45 to 60 years of age. Along with this, the proposal to expand the Bhavanapadu port was also cleared in the cabinet meeting.