Vijayawada: The State Investment Promotion Board (SIPB), which met on Monday under the chairmanship of chief minister N Chandrababu Naidu, cleared investment proposals worth 1.82 lakh crore. The SIPB cleared nine projects, which can generate 2.63 lakh jobs if the investments materialise. Naidu directed officials to speed up clearances, land allotment, and other infrastructure facilities, and ensure that the projects are grounded as per the terms of the agreement.
Among the projects, the Bharat Petroleum Corporation Limited (BPCL) refinery at Ramayapatnam alone is worth 96,862 crore.
The greenfield refinery, with a capacity of 9 million metric tonnes, will have a learning centre, petrochemical unit, crude oil terminal, green H2, and administrative blocks. The govt will get 88,747 crore in revenue over the next 20 years from the project, which is likely to become operational by 2029.
The SIPB also cleared the Tata Consultancy Services (TCS) development centre in Visakhapatnam with an initial investment of 80 crore. The facility will cover 2 lakh square feet and provide jobs to 2,000 people.
Azad Mobility India Ltd will set up a plant at Gudipalli in Sri Satyasai district on an extent of 70 acres. The company will manufacture electric three-wheeler autos, buses, and battery packs.
