SIPB gives nod to ₹1.82L crore investments

New projects to generate jobs for 2.63 lakh youth; State to get ₹88k crore revenue from BPCL refinery in 20 years

- EXPRESS NEWS SERVICE @Vijayawada

THE State Investment Promotion Board (SIPB) meeting, under the chairmanship of Chief Minister N Chandrababu Naidu, gave the approval for investments to a tune of ₹1.82 lakh crore through nine projects which would provide employment to 2.63 lakh people.

While clearing the investment proposals at the meeting held at Secretariat on Monday, the Chief Minister directed the officials to see to it that all the necessary permissions, including allocation of land are granted in time to those who are coming forward to invest in the State.

Among the nine projects, Bharat Petroleum Corporation Limited (BPCL) is setting up a major refinery on an extent of 6,000 acres at Ramayapatnam in Nellore district with an investment of ₹96,862 crore creating 2,400 jobs. BPCL is also planning a township with five blocks comprising a learning centre, refinery, petrochemical unit and an administrative block, the officials told the Chief Minister.