Monday, 2 January 2012

Mahindra & Mahindra to set up another plant in Andhra Pradesh ?

According to the reports of   Andhra Pradesh's Industries Minister J Geeta Reddy, the state has received the proposals of 140 investments which would in totality account for 300,000 crore of rupees. 

As per the minister, State Investment Promotion Board (SIPB) has given approval to 24 of the 140 proposals including two from Automotive Sector wherein Mahindra & Mahindra will participate and two in the petrochemical sector of Amerind Petrochemicals (Rs 9,950 crore) and Al Qebla Al Watya (Rs 40,000 crore) in the Petroleum, Chemicals and Petrochemicals Investment Regions (PCPIR) in Visakhapatnam.

The 24 proposals that have been given the an approval by the SIPB involve a cumulative investment of Rs 76,552 crore and these units when completed would directly employ about 71,908 people.

Meanwhile, the state is making arrangements for ‘New age innovation partnership summit’, a prestigious event where delegates from 26 countries are expected to participate.The event, being organised in association with Confederation of India Industry, will be held at Hyderabad from January 11 to 13.


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