Vizag Summit: CM Jagan Inaugurates Companies With ₹1425 Cr Investment

With the Vizag Global Investors Summit, AP government made deals worth Rs 13 Lakh crore involving 340 proposals and here is perhaps the first set of investment turning into reality. On Thursday CM Jagan took part in the groundbreaking ceremony for three plants with an investment worth Rs 1425 crore.

Kribhco Green Energy Private Limited will be manufacturing Bioethanol in Nellore district’s Sarvepalli and it will invest Rs 610 crore in the region. With this investment, the state government anticipates 1000 jobs to the locals. Upon inaugurating the plan, CM Jagan congratulated the management of Kribhco Green Energy and assured that he is one call away incase the management needs further more assistance.

The second investment is from Viswa Samudra Bio Energy Limited and it would be investing Rs 315 crore and might provide employment to 500 locals. The operations will begin in another 18 months, said CM Jagan.

The third investment is in temple town Tirupathi and its Continental Coffee that would be setting up its factory here. The investment is valued at Rs 400 crore and annually the company aims to produce 16000 tons of coffee.

Godrej Agrovet Limited will set up its unit in Eluru district. They are going to expand the edible oil refinery project with a capacity of 400 tons with an investment of Rs.100 crores. It is commendable that the unit was inaugurated in just 9 months after the permission was given to us for setting up the plant, announced CM Jagan.

Overall the investments are worth Rs 1425 crore and it would provide employment to 2500 locals in the respective region. That’s a great news to the state.