Andhra Pradesh secured Rs 11.77 lakh crore investments in two years, says TG Bharath

Amaravati: 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.

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He also said that land allotments are made only after approvals from the SIPB and the State Cabinet.

Speaking to 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.

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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.