Economy

Several PSUs line up to invest in AP

Our Bureau Hyderabad | Updated on February 27, 2011 Published on February 27, 2011

Andhra Pradesh manages to attract several public sector undertakings, including a refinery complex by HPCL, with a total estimated outlay of about Rs 50,000 crore,

The Chief Minister's Office in a statement mentioned that six PSUs have already submitted proposals to the State Government, indicating a total investment of about Rs 44,800 crore.

HPCL alone has a proposal to invest about Rs 40,000 crore in a refinery complex at Visakhapatnam as a part of the Petroleum, Chemicals and Petrochemical Investment Region (PCPIR).

BHEL and BEL have come up with a proposal to develop a solar photovoltaic modules unit in the FAB City with an outlay of Rs 2,000 crore. BDL has expressed interest to set up two units in the State, including a missile unit at Ibrahimpatnam in Ranga Reddy district and another in Anantapur with an outlay of Rs 500 crore each.

BDL has sought for 438 acres and 634 acres of land for these two projects. The Bangalore-based HAL has come forward to set up helicopter manufacturing unit with an outlay of Rs 625 crore and ECIL with a plan for electronic equipment making unit with an outlay of Rs 500-crore investment and BEL with a radar testing facility in Anantapur seeking 1,000 acres.

Earlier this year, the Prime Minister, Dr Manmohan Singh, laid the foundation stone for the Rs 6,000-crore NTPC-BHEL joint venture project to manufacture power equipment at Mannavaram in Chittoor district of the State, which has potential to create scores of ancillary units.

Referring to the recent State Investment Promotion Board meeting, the CMO mentioned that on one day, 25 investment proposals with total outlay of Rs 25,672 crore, which includes seven cement plants, three automotive units were cleared.

The investment policy of the Government would help attract more investments into the State as new units are offered power at lower tariffs.

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Published on February 27, 2011
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