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Andhra’s SIPB Clears Investment Proposals worth Rs. 1,26,748 Cr

Andhra Pradesh State Investment Promotion Board (SIPB) has cleared investments worth a total value of Rs. 1,26,748 crore, which is expected to create 40,330 direct employment opportunities in the next 7 years.

Out of this total amount, Rs. 81,043 crore has been cleared for green projects in Nandyal, YSR and Kurnool districts of the state. These projects include hydro storage and pumped hydro storage projects, the aggregate capacity of which will be about 17,930 MW. In addition to these green projects, two solar projects to be developed by Insol Solar in the state with a cumulative capacity of 60 GW have been cleared.

Clearances by SIPB include Inosol Solar’s 5,147-acre Photovoltaic (PV) manufacturing plant in Ramayapatnam, SPS Nellore district, which will produce polysilicon and other PV products. An investment of Rs 386.23 crore for Causis E-Mobility’s upcoming e-bus manufacturing unit in Kopparthy, YSR district has also been cleared by the board. SIPB has also cleared Lyfius Pharma’s Rs. 1,900 crore investment in a drug manufacturing unit to come up in Kakinada Special Economic Zone (SEZ).