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SIPB clears big proposals

Andhra Pradesh’s State Investment Promotion Board cleared proposals worth Rs 3808 crore with potential to create 5325 jobs.

Of the six companies, Chettinad Cements proposed the highest investment of Rs. 1350 crore that would provide employment to 1250. The 1000 acre-cement manufacturing unit in Guntur district and a cement grinding unit in Visakhapatnam that it intends to set up would start commercial production by March 2019.

Rane Group has planned to set up calcined petroleum coke plant, cement grinding unit, R&D facility and waste heat recovery power plant at the SEZ in Visakhapatnam worth Rs. 1,046 crore. This will provide employment to 1000. Also investing are KCP Ltd, Mohan Spintex India Ltd, Vishwaa Apparels, and Indo Count Industries Ltd. 

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