Andhra CM approves Rs. 81k cr investments in green energy
The sector will provide better employment opportunities to youth and would help farmers to increase the productivity and their revenue, says YS Jagan Mohan Reddy
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Vijayawada: The State Investment Promotion Board (SIPB) meeting held at nearby Tadepalli on Monday under the chairmanship of Chief Minister YS Jagan Mohan Reddy approved investments of Rs 81,000 crore in green energy sector and other projects to give a fillip to industrialisation in the State.
The Chief Minister said that green energy would change the face of economy of the State, which would provide employment opportunities to youth and would also help farmers increase the productivity and their revenue. Major industries are coming forward in this direction, he said.
In Kopparthi of YSR district, Causis E-Mobility would be investing Rs386.23 crore, of which Rs 286.23 crore would be for electric bus unit and the remaining Rs100 crore for basic charging facilities.
In the first phase, it is proposed to manufacture 1,000 buses using modern technology with employment opportunities to over 1,200.
Lyfius Pharma would be investing a total of Rs1,900 crore proving employment to 2,000 people and the company would be ready by April 2024. This is in a bid to reduce the dependency on China on API drugs and the State has allocated 236.37 acres of land.
Inosol Solar Private Limited would invest Rs43,143 crore in three phases for the manufacture of metallurgical grade silicon, poly silicon, float glass and other products which will provide direct employment to 11,500 and indirect employment to over 11,000 and the plant will come up at Ramayapatnam near Nellore for which 5,147 acres are allotted. The company will also setup solar power projects of 50 GW and 10 GW.
