Nineteen investment proposals worth about ₹28,546 crore with a potential to generate employment for 30,270 people were approved in the 7th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N. Chandrababu Naidu at the Secretariat on Thursday. Mr. Naidu offered additional incentives to industries being set up in backward areas of the State in order to encourage them to play a catalytic role in their development, and to BPCL and Kalyani Strategic Systems Limited, LG Electronics, and Krishnapatnam Power Corporation.
With the approvals given on June 19, the investments cleared in seven SIPB meetings held so far reached ₹5,34,684 crore, according to an official release.
