Vijayawada: The Andhra Pradesh government had cleared two major industrial parks that are scheduled to come up by 2018 in the State. A meeting of the State Investment Promotion Board held under the chairmanship of Chief Minister N Chandrababu Naidu has granted approval for setting up of two mega projects in the State.
Tremag Alloys Private Limited and Tata Chemicals Limited have been granted approval for setting up of units to manufacture Magnesium Ingots and prebiotics.
Tremag Alloys Private Limited had come forward to set up a Magnesium Ingots Manufacturing Plant in 100 acres Kadapa Industrial Park. It would invest Rs.660 crore and provide direct employment to 1200 persons and indirect employment to 6000 persons. The first phase of the two-phased project would start in November 2018, while the final phase is to be ready by May 2019. This would be the first such project in the country to use pidgeon process and produce magnesium ingots for steel, auto and aviation industries.
The second project that was cleared by the SIPB is that of Tata Chemicals Limited which would establish a Prebiotics Manufacturing Plant to manufacture FOS (Fructo-oligosaccharides) and GOS (Galacto-oligosccharides) powders.
The plant will come up in APIIC Industrial Park of Tada mandal in Nellore district in an area of 39.81 acres with a total investment of 400 crore. The project is aimed at providing direct employment to 150 people and indirect employment to 80 members. The plant will have to be completed in two phases and start production in December 2018.