AP Cabinet approves investment of Rs 1.45 lakh crore for setting up major industrial units

Chief Minister YS Jaganmohan Reddy gave the green signal to establish a new energy park with an investment of Rs 1.1 lakh crore in two phases

Amaravati: The Andhra Pradesh Cabinet on Wednesday approved setting up of major industrial units in the state with a total investment of Rs 1.45 lakh crore.

The meeting chaired by Chief Minister YS Jaganmohan Reddy gave the green signal to establish a new energy park with an investment of Rs 1.1 lakh crore in two phases, and 1000 MW wind and solar projects.

Among other decisions on the day were taking a Rs 3,940 crore loan from Power Finance Corporation at 9.75 per cent interest for setting up the Machilipatnam port, and sanctioning rebate in power tariff to granite companies by collecting only Rs.2 per unit.