AP government offers sops to industry
AP government offers sops to industry
Major Push To Industrialisation
♦ Allocates 860 acres to Jindal Steel in Nellore dist
♦ Mega Industrial Hub will come up at Kopparthy near Kadapa
♦ Electronics manufacturing cluster is also in the pipeline
♦ Reimbursement of power tariff at Re 1 per unit for 5 years
♦ Investment subsidy of Rs 10 crore
♦ 100% Reimbursement of GST for 8 years
Amaravati: The Andhra Pradesh government on Thursday announced a slew of incentives for various companies to give a major push to industrialisation in Kadapa and SPS Nellore districts.
In Chief Minister YS Jagan Mohan Reddy's home district Kadapa, the proposed Mega Industrial Hub, named after himself and his late father, will get a big thrust as two 'early bird' companies came forward to set up mega projects at a total investment of Rs 887 crore.
The Mega Industrial Hub will come up at Kopparthy near Kadapa where an electronics manufacturing cluster is also in the pipeline.
Industrialisation in Sri Potti Sriramulu Nellore district, home of Industries Minister Mekapati Goutham Reddy, has also been given a further boost with the government allocating 860 acres to Jindal for setting up an integrated steel plant and offering incentives to Greentech Industries for expanding its manufacturing capacities.
Special Chief Secretary, Industries, Infrastructure and Investments, R Karikal Valaven issued a series of orders granting the incentives under different policies after the State Investment Promotion Board (SIPB) cleared the proposals last month.
Jindal Steel Andhra Ltd has proposed to set up a 2.25 million tonnes per annum integrated steel plant in SPS Nellore district with a total investment of Rs 7,500 crore.