This project is a part of the nine major investment proposals worth Rs 7,330 cr. in AP
July 29, 2016
Arrow Cables (India) Ltd will invest Rs 510 crore in Krishna district. The Andhra Pradesh Industrial Infrastructure Corporation (APIIC) will provide land to the company. These two companies will together generate about 500 jobs in Krishna district. Arrow Cables Limited, established as a limited company in the year 1996, is a manufacturer of both power conductors and power cables up to 1.1 KV for transmission lines and mission critical power operations.
Besides, Andhra Pradesh will get its first gold refinery in Krishna district and an aerospace cluster in Anantapur soon. These are part of the nine major investment proposals worth Rs 7,330 crore cleared by the AP State Investment Promotion Board (SIPB).
The SIPB decided to give a special package of incentives to these units. They will be eligible for reimbursement of 100 per cent net VATCST for a period of seven years from the date of commencement of commercial production.
The projects are spread across sectors like chemical, fibre, food processing, industrial park and renewable energy equipment covering Chittoor, Anantapur, Krishna, Nellore, Visakhapatnam, West Godavari and Vizianagaram districts.
Another major unit in the district will be set up by Suzlon Energy Ltd, which will produce renewable energy equipments like solar panels and blades for wind turbines at a cost of Rs 545 cr.
