Andhra Pradesh is soon to be destined to come one of the biggest industrial hubs in the country, going by the recent advancements. Approval of 4 mega manufacturing projects by the AP State Investment Promotion Board (SIPB) sets the tone for major industrial boost. Let’s say, we are talking about Rs 26,630 Crore budget.
The Andhra Pradesh State Investment Promotion Board (SIPB) approved four mega industrial projects with a total proposed investment of Rs 26,630 crore.
Project 1 – Essel – GCL
Essel GCL‘s Integrated Solar Energy Equipment Manufacturing facilities have been aimed to be set up with the total investment of $2 billion and would surely generate over 15,000 skilled jobs within the state. Through this manufacturing base, GCL & Essel cast their eyes to cater to both domestic and overseas markets.
The Essel-GCL consortium alone has proposed an investment of Rs 21,300 crore on a solar panel manufacturing project in Chittoor district.
Project 2 – Reliance Defence
Reliance Defence and Engineering Limited (RDEL) is reckoned to have the largest engineering infrastructure in India, and is also the largest in the world. Defence is also the first in the private sector space to have the license and contract to build warships.
The other big investment proposal came from the Anil Dhirubhai Ambani Group’s Reliance Defence, which has proposed to invest Rs 5,000 crore for the establishment of a shipbuilding unit in Visakhapatnam.
Both companies had signed separate Memorandum of Understandings with the state government for their respective projects at the CII Partnership Summit in January at Visakhapatnam.
Project 3 – Dixon Technologies India Private Limited
Among the other two approved projects, an electronic manufacturing unit will be set up by Dixon Technologies India Private Limited in Chittoor district with an investment of Rs 150 crore.
An astounding industrial player headquartered in Noida, Dixon Technologies is well known for impeccable services in end to end manufacturing solutions that meet the most demanding requirements. Dixon deploys optimally designed facilities that flexibly deliver prototype, New Product Introduction (NPI), and low and high volume manufacturing.
Project 4 – Gokaldas Exports
Delivering in style since 1985, Gokaldas Exports is perhaps one of the veteran players in the Indian garment market. An internationally acclaimed establishment that has collaborated with world’s most wanted and shopped brands, Gokaldas is also the largest manufacturer and exporter of India with a mind blowing annual turnover of $200 Million. Gokaldas has 23 manufacturing units so far, employing skilled workers across the nation and generating employment.
Gokaldas Exports has proposed to set up a garment manufacturing unit at an investment of Rs 180 crore in Anantapur district.
In addition to these projects, the SIPB, headed by Chief Minister N. Chandrababu Naidu, has also approved projects worth Rs 2,000 crore investments under other categories, according to a government statement.