Andhra, Telangana got Rs 3.1 cr ind investment in June

Andhra Pradesh and Telangana got industrial investment of more Rs 3,100 crore in July. Three industrial projects in Andhra Pradesh received investment worth Rs 1,673 crore and created 1,954 jobs in June. Telangana got Rs 1,440 crore in one project in the same month and generated employment for 208 persons, official sources told Bizz Buzz.

Shree Cement Limited commenced production of clinker at its Guntur unit. It has an installed capacity of 2.4 million tons.

CMR Eco Aluminium also began to manufacture zinc alloys at its plant in the Chittoor district. Its installed capacity is 1 lakh tons.

Gravita India Ltd started the production of plastic granules at Chittoor. The plant has the capacity to produce 6,000 tons per year.

My Home Industries began the production of clinker for all sorts of cements at Nalgoda. The plant has a capacity of 3.5 million tons.

These were Part B filings of industrial entrepreneur memorandums (IEMs), denoting actual investment. There were also seven Part A filings of industrial entrepreneur memorandums (IEMs), indicating intention to invest in Telangana and Andhra Pradesh.

There were five Part A filings in Telangana in June, with the total investment amounting to Rs 2,061 crore. As many as 2,733 jobs are expected to be created. In comparison, Andhra Pradesh is likely to get just Rs 310 crore for a couple of projects.

Part A filings in June were more diversified than the Part B ones. Companies have shown interest in setting up units to make commercial vehicles, steel, pharmaceuticals, pet food, confectionary items, and ethyl alcohol.

In June, there were 82 proposals showing intentions to invest Rs 39,835 crore, as compared to Rs 30,037 crore in June 2023. However, actual industrial investment in June was Rs 13,395 crore, which was just a fraction of Rs 47,262 crore in June 2023.