Chief Minister Jagan Mohan Reddy has approved the investment proposal of Rs 15,740 crore which is part of the proposed total investment of Rs 60,000 crore by
The project will create 10,000 jobs in four districts of Andhra Pradesh.
Adani Group has proposed pump storage projects in four districts of the state – two factories to be set up in Parvathi Puram, one in YSR Kadapa and one in Satya Sai district. In Parvathi Puram, a 1200 MW plant will be set up in Kurukutti and a 1000 MW plant in Karrivalasa.
Meanwhile, a 1000 MW plant will be set up in Gandikota and a 500 MW plant in Chitravathi. In each of these districts, Adani Group has proposed to create 3,000 jobs in Kurukutti, 3,000 in Karrivalasa, 1,500 in Chitravathi and 2,500 in Gandikota.
The project is expected to start in December 2022 and is expected to be commissioned in December 2028. Although the factories will be set up on 1490 hectares of land, the state government has decided that the land will be leased from farmers at the cost of Rs 30,000 per hectare in these districts, which will be transferred directly to the farmers.
Meanwhile, the state generates a revenue of Rs 2,775 crore from the project in terms of the stored energy and an additional Rs 980 crore from the SGST.
“This will give a big boost to the state in terms of investment and a positive message as the employment rate in the state continues to rise,” Andhra Pradesh CM YS Jagan Mohan Reddy said in the meeting.
In other decisions taken at the SIPB meeting, the government has decided to apply for the PM MITRA scheme, which proposes to set up an integrated textile park at the YSR Jagananna Mega Industrial Hub in Kopparthy in the YSR district. Under the terms of the scheme, the government has proposed to set the energy cost at Rs 4.5 per unit and Rs 60 per TMC of water for the 10-year period of the project.
The SIPB has also authorized the establishment of a shrimp processing unit in the Krishna District Food Park by Avisa Foods Private Limited. The project is expected to create 2,500 jobs in 12 months and the company has applied for 11.64 hectares of land from the Andhra Pradesh state government. The SIPB has decided to lease the 11.64 hectares at a cost of Rs 1027 per square meter. The government has also made it a condition that the wastewater treatment plant (ETP) be set up by the company.