The Andhra Pradesh State Investment Promotion Board, at its meeting on Friday under the chairmanship of the state 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 respectively.
In a note by the Andhra government says, Tremag Alloys had come forward to set up a Magnesium Ingots manufacturing plant spread across 100 acres in the Kadapa Mega Industrial Park. "While the total investment proposed by the company is Rs.660 crore, it will provide direct employment to over 1200 people and indirect employment to 6000 people. The phase one of the project will commence in November 2018 and second phase will start from May 2019. The expected turnover is Rs. 800 crore.' Also, it says, "this is first such project in India to use Pidgeon process to produce magnesium ingots; used primarily for steel, auto, aviation industries."
On the Tata Chemicals project, it says, the company was "keen on setting up a Prebiotics Manufacturing Plant to manufacture FOS (Fructo-oligosaccharides) and GOS (Galacto-oligosccharides) powders." The plant will come up in APIIC Industrial Park, Mambattu Village, Tada Mandal, Nellore district in an area of 39.81 acres with a total investment of Rs 400 crore. The expected turnover is Rs 183.crore by 2021 and will provide direct employment to 150 people and indirect employment to 80 people. The plant will be completed in two phases and the production will start in December 2018."