The Andhra Pradesh State Investment Promotion Board (SIPB) has approved various investment proposals worth Rs 1,26,748 crore.
These projects will create 40,330 direct employment over the next seven years. Of the total, Rs 81,000 crore will be invested on green energy projects that would generate 17,930 MW of power.
Apart from this, two other solar power plants with a total capacity of 60 GW are also proposed.
The Board has also approved a proposal from Causis E-Mobility for an investment of Rs 386.23 crore on an electric bus-manufacturing unit at Kopparthy in YSR district. The project will create over 1,200 jobs.
Lyfius Pharma will make an investment of Rs 1,900 crore on its drug manufacturing unit in the Kakinada SEZ. For this, the state government has allotted 236.37 acre of land. The unit will be ready by April 2024. The project will provide employment to 2,000 people.
Apart from this, Inosol Solar will set up its plant on a 5,147 acre site at Ramayapatnam in SPS Nellore district to manufacture metallurgical grade silicon, poly silicon, float glass and other products.
The company will make an investment of Rs 43,143 crore in three phases. The project will provide direct employment to 11,500 people and create indirect employment for another 11,000. It will also set up solar power plants of 50 GW and 10 Gw capacity.
SIPB also sanctioned six green energy projects in YSR, Kurnool and Nandyal districts with an aggregate investment of Rs 81,043 crore.
The green energy plants include hydro storage and pumped hydro storage with a total capacity of 17,930 MW. The projects will be completed in phases by December 2029.
