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Asian Paper and Pulp Withdraws Biggest FDI in Andhra Pradesh

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Asian Paper and Pulp Withdraws Biggest FDI in Andhra Pradesh

YSR-Congress-to-Contest-in-TelanganaAsian Paper and Pulp, a subsidiary of Sinarmas, is one of the largest industrial houses in Indonesia had signed an MOU with Andhra Pradesh Government last year. According to that, APP will invest Rs 24,000 crore ($3.5 billion) in its proposed pulp and paper manufacturing unit at Ravuru in Gudluru Mandal of Prakasam district.It is supposed the single biggest FDI so far in the country. The project with a capacity of 5 million metric tonnes per annum will be the largest unit of APP at a single location. The unit was supposed to come up in 2,471 acres of land and generate 4,000 direct and 12,000 indirect jobs. But then, the project is now dropped.Sources say that Asian Paper & Pulp has taken this decision mainly due to the new policies of the Jagan Reddy’s Government. This will come as a big blow to the new government as it is starting at empty coffers. Unless Jagan can generate revenues and mobilize resources, he will be under tremendous pressure to meet the increasing expenditure due to his election promises.

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1 minute ago, Raaamu said:

Inka marala babu vachinaa evadu invest cheyadu ikkada

+1

aa tikka naa koduku teesukone decisions valla companies anni bayapadathayi .. govt marithe problem face cheyyalsi vasthademo ani.. anta AP Badluck

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antha pedda investment ante oka 4 elections karchulu sardali......75% local is nothing but for extortion..... election karchu tabattali kada....

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Veedini chusthe mahametha nayam la vunnadu, Cbn projects evi kadilinchakunda vadi % vadu theesukunnadu.. Eedendo eedi vidanalento... 

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