Andhra Pradesh secured Rs 11.77 lakh crore investments in two years: TG Bharath
Amaravati, July 1
Andhra Pradesh Industries and Commerce Minister TG Bharath said that investments worth Rs 11.77 lakh crore have been grounded in the past two years, expected to create nearly 10.20 lakh jobs.
He said project progress is closely monitored after the DPR stage, warning that delays will attract notices and penalties.
He also said that land allotments are made only after approvals from the SIPB and the State Cabinet.
Speaking to ANI on Tuesday, Bharath said, "The land allotment is done based on a company's DPR (Detailed Project Report). The DPR is assessed, goes through the SIPB and SIPC, and then comes to the Cabinet for approval...We were able to close investments worth Rs 11.77 lakh crore across all portfolios in the last two years."
"The projected job generation from these investments is around 10.32 lakh...Land is allotted strictly as per the DPR and the required clearances. There is a defined process for land allotment...People need to understand that sustained growth requires a stable government. If growth has to continue, political stability is essential," he further added.
Meanwhile, last week, Andhra Pradesh Chief Minister N Chandrababu Naidu and Managing Director and Chairman of Lloyds Metals & Energy, B Prabhakaran, jointly inaugurated the Jonnagiri Gold Mine in the Kurnool district, marking the start of India's first commercial-scale private-sector gold mining operation since Independence.
According to a company release, the mine, located across Jonnagiri, Erragudi and Pagidirayi villages in Tuggali mandal, is a major step towards strengthening India's domestic gold production capabilities at a time when the country remains one of the world's largest consumers of the precious metal.
Jonnagiri brings commercial-scale gold mining back into focus.
According to a company release, the mine is located across Jonnagiri, Erragudi and Pagidirayi villages in Tuggali mandal.
Developed by Geomysore Services India Pvt Ltd and backed by Lloyds Metals & Energy and the Thriveni Group, the project has attracted investments of more than Rs 400 crore and spans nearly 598 hectares.
— ANI
Reader Comments
The Jonnagiri Gold Mine is a historic moment! 🏆 India's first private-sector commercial gold mine since Independence - finally moving beyond just importing gold. With our massive gold consumption, domestic production will help reduce import dependency. Hope environmental safeguards are in place.
Interesting development. The DPR-based land allotment process sounds robust, but I hope smaller businesses aren't sidelined by bureaucratic delays. Transparency is key - need to ensure this isn't just another promise that fizzles out. 10.32 lakh jobs is a huge number - let's see how many actually materialize.
Andhra Pradesh is finally getting its due after the bifurcation! Chandrababu Naidu's experience with infrastructure is showing. But politics aside, this kind of investment climate needs sustained effort. The gold mine project is particularly exciting - India has huge gold reserves untapped.
Good numbers, but let's be realistic. Many state governments announce big investment figures during events. The real question is ground-level implementation. Local youth need skill training to grab these job opportunities. Hope the education system aligns with industry needs. 🤔
Impressive numbers! The gold mine project is a game-changer - finally moving beyond importing gold. But I'm concerned about environmental impact in Kurnool district. Proper rehabilitation for displaced families? And transparency in land acquisition for these big projects? Hope due diligence is followed.
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