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The Andhra Pradesh State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu, has approved investment proposals worth ?85,083 crore during its meeting on Tuesday. These projects are expected to generate 33,966 jobs across the state. The board gave the green light to 10 major industrial projects, including a significant proposal from ArcelorMittal and Nippon Steel to establish an integrated steel plant and a capital port at Bagaraiahpeta near JV Nakkapalli. This project alone will see an initial investment of ?61,780 crore and create 21,000 jobs. Other key approvals include: LG Electronics India Pvt Ltd: ?5,001 crore investment to create 1,495 jobs. Kalyani Strategic Systems Ltd: ?1,430 crore investment to generate 565 jobs. Phillips Carbon Black Ltd: ?3,798 crore investment with 200 jobs. Azad India Mobility Ltd: ?1,046 crore investment to employ 2,381 people. Additional projects from other companies were also cleared, marking a significant boost to the state’s industrial and employment landscape, according to an official release. |
