Three companies to mint 13000 jobs in AP!

The state bifurcation may have hit the finance of Andhra Pradesh, but it is certainly doing good to the state with new industry expanding beyond Hyderabad. Andhra Pradesh government is currently in the verge of clearing three projects – Shahi Exports, Universal Coke & Power Ltd and Gujarat Ambuja Exports Ltd. Once they start rolling these three companies are expected to bring in over 13000 jobs.

Shahi Group will be setting up Textile parks in Palamaneru, Kuppam, Chittoor and Hindupur proving 11000 jobs. The company is given five acres of land at the each place. Universal Coke & Power will be set up in Nellore district with an investment of 725 Crore and will being in 1525 jobs.

The maize processing plant by The Ambuja Group in Kurnool will give employment to 500. All the three companies will be eligible for other incentives as per the new industrial policy which includes 100 per cent reimbursement of stamp duty on the purchase of land or lease of land, 25 per cent rebate on land cost limited to Rs 10 lakh in Industrial Estates and Parks and 50 per cent reimbursement of cost involved in the skill upgradation and training of local manpower limited to Rs 2000 per person.