The state investment promotion board (SIPB), headed by chief minister N Kiran Kumar Reddy, on Wednesday cleared 25 investment proposals with a combined investment of Rs 40,379 crore, of which Rs 37,653 crore comes from cement and fertiliser sectors alone. The cement sector continues to enjoy the government patronage so far this year. It may be recalled that the state government had cleared 15 cement projects with proposed investments of Rs 15,392 crore last year. Reliance Cement Company Private Limited of the Anil Dhirubhai Ambani Group is among the 13 cement projects that will be bringing in Rs 20,980 crore. Some of these cement companies have also proposed to set up captive power units.
Incentives, including a 25 per cent value-added tax (VAT) reimbursement, have been granted to these projects as per the state industrial policy, according to the officials. Of these 25 projects, about 20 investment proposals were part of the MoUs signed during the Partnership Summit held in January this year. These projects are spread across eight sectors covering 12 districts of Kadapa, Guntur, Krishna, Nellore, Visakhapatnam, Mahabubnagar, Nalgonda, Kurnool, Rangareddy, Adilabad, West Godavari and Vizianagaram, the chief minister's office said in a press release.http://www.business-standard.com/india/news/ap-clears-rs-40000-cr-investments/478649/