Latest news with #StateInvestmentPromotionCommittee
Hans India
08-05-2025
- Business
- Hans India
CM Chandrababu Naidu Welcomes LG Electronics' New Manufacturing Unit in AP
CM Chandrababu Naidu has expressed happiness over the establishment of a new manufacturing unit of LG Electronics in Andhra Pradesh. He tweeted that Andhra Pradesh is welcoming LG. He mentioned that the company has signed an agreement to make AP a global manufacturing hub with an investment of over Rs. 5,800 crore in Sri City, creating over 2,500 direct and indirect jobs. The CM stated that the company has received 100 percent incentives under the State Investment Promotion Committee (SIPC) for this project. He further added that this marks the beginning of an exciting new chapter for the industrial growth of the state. The CM shared a photo taken after Minister Nara Lokesh laid the foundation stone of LG Electronics in Sri City today.
Hans India
22-04-2025
- Business
- Hans India
21.16 acres allotted to TCS to set up IT campus in Vizag
Vijayawada: Andhra Pradesh Industrial and Infrastructure Development Corporation (APIIC) has identified 21.16 acres of land parcels at IT Hill No.3, in Visakhapatnam to allot to TCS for establishment of IT Campus with an investment of Rs 1,370 crore and employment potential for 12,000 persons. The APEDB, after evaluating the proposal, has recommended the land allocation to the State Investment Promotion Committee (SIPC) for necessary approvals. Accordingly, the proposal was placed before the State Investment Promotion Board (SIPB) meeting held on April 10. The SIPB, based on the recommendations of the State Investment Promotion Committee (SIPC) in its meeting held April 1 decided to allot the land. 'The SIPB, after deliberation on the proposal of M/s Tata Consultancy Services Ltd approved allotment of 21.16 acres in IT Hill No 3 to M/s Tata Consultancy Services Ltd. The Government after careful examination of the proposal and keeping in view the recommendations of the State Investment Promotion Board (SIPB) and the Council of Ministers approved the allotment of land for the entire 21.16 Acres at 99 paisa. The VC & MD, APIIC was requested to take necessary action in this matter. Bhaskar Katamneni, secretary to the Government issued the orders in this regard on Monday. Visakhapatnam (Vizag) has emerged as a prominent IT hub, thanks to its strategic location, excellent connectivity, and well-developed infrastructure. Government is trying to attract major IT giants and inviting to set up their offices for creation of jobs and overall economic development of the region.
