SIPB clears Rs.3,808 crore worth proposals – 5325 jobs to be generated

Tuesday, June 13, 2017

The State Investment Promotion Board has on Tuesday cleared six investment proposals worth Rs.3,808 crore.

The companies whose proposals were cleared include KCP Limited, Chettinad Cement Corporation Pvt.Ltd., Rain Group, Mohan Spintex India Ltd., Indo Count Industries Limited and Vishwaa Apparels. These companies will generate 5,325 jobs.

The KCP Limited would invest Rs.531.61 crore in the next five years to set up a cement manufacturing unit at Muktyala village in the Jaggayyapeta mandal of Krishna district and would provide employment to 100 people and an indirect employment to 1,900. The Chettinad Cement Corporation would invest Rs.1,350 crore on a cement grinding unit at Visakhapatnam and would provide employment to 1,250 people. The Rain Group would invest Rs.1,046 crore to set up a Calcined Petroleum Coke Plant, cement grinding unit, R&D Facility and Waste Heat Recovery Power Plant at Atchutapuram SEZ in Visakhapatnam . The Indo Count Industries’ limited would invest Rs.250 crore while Vishwaa Apparels would launch its unit in Chittoor.

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