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AP Investment Promotion Board gives nod for six projects

Monday, 20 Jan 2014
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The Andhra Pradesh (AP) Investment Promotion Board has given its nod for six major project proposals with a total investment of Rs 6,500 crore.


The State Investment Promotion Board (SIPB) has approved major projects of multinational companies like PepsiCo, Cadbury, Colgate, Johnson & Johnson, Gerdau Steels and ITC (expansion).


The SIPB has cleared the proposals of PepsiCo worth Rs 1,200 crore; Cadbury India worth Rs 2,500 crore; Colgate Rs 275 crore; Johnson & Johnson worth Rs 400 crore; Gerdau Steel Rs 1,270 crore; and ITC Rs 828 crore.


All the above companies have already signed MoUs with the state government. PepsiCo, Cadbury, Johnson & Johnson, and Colgate are setting up greenfield plants, while Gerdau Steel (steel manufacturing) and ITC (paper) are investing in capacity expansion of the existing plants.

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