AP Cabinet Clears SIPB’s Investment Proposals Worth Rs 1,26,748 Crore

 - Sakshi Post

Amaravati: The Andhra Pradesh Cabinet meeting chaired by Chief Minister YS Jagan Mohan Reddy on Wednesday has taken several key decisions. The meeting took place in the Cabinet Meeting Hall, on the 1st floor of Building No.1, AP Secretariat. 

A total of 57 important proposals were discussed and approved in the Cabinet meeting. The cabinet gave its nod to the investment proposals worth Rs 1,26,748 crore of Andhra Pradesh State Investment Promotion Board (SIPB). The massive investments are expected to create 40,330 direct employment over the next seven years.

Of the total, Rs 81,000 crore would be invested on green energy projects that would generate 17,930 MW of power. The cabinet has also cleared the SIPB approval of a proposal from Causis E-Mobility for an investment of Rs 386.23 crore on an electric bus-manufacturing unit at Kopparthy in YSR district. The venture would create over 1,200 jobs.

Also Read: Andhra Pradesh Assembly Session Likely To Start From Sep 15

The cabinet has also approved the 4 percent reservation for persons with disabilities in job recruitments and also reservation in promotions. The cabinet has cleared the proposal to release funds under the YSR Cheyutha Scheme which aims at equipping women of SC/ST/OBC/minorities. 

The Financial benefit of Rs. 75000 is to be provided over a period of four years to those women who come under 45 to 60 years of age. The proposal to expand the Bhavanapadu port was also cleared in the cabinet meeting. 


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