The Cabinet meeting chaired by Chief Minister N. Chandrababu Naidu on Thursday took several important decisions including the establishment of AP Logistics Infrastructure Corporation (APLINC) as an integrated holding company for developing infrastructure projects and constitution of a AP Logistics Fund as an Alternative Investment Fund (AIF) for mobilising institutional capital for those projects. The Andhra Pradesh Government would be the initial sponsor of this fund with up to 20% share.
Besides, the Cabinet gave its nod for changing the name of ArcelorMittal Nippon Steel India Pvt. Ltd. to AMNS Ports Rajayyapeta Pvt. Ltd, designating it as a Special Purpose Vehicle for constructing a 2.90 km-long waterfront captive port at D.L. Puram in Anakapalli district.
The Cabinet cleared the allotment of nearly 150 acres to Ethereal Exploration Guild Pvt. Ltd. for setting up a rocket launch vehicle and engine manufacturing unit in the upcoming Space City in Tirupati district at a subsidised rate of 5 lakh per acre and 56 acres to Pioneer Clean Amps Pvt. Ltd. in Chittoor district for manufacturing Hansa-3(NG) trainer aircraft and establishing a flight training school there.
The Cabinet also approved the establishment of a greenfield electrical steel and wind mast manufacturing facility by Shirdi Sai Electricals in Kadapa district and sanctioned special incentives to Ramco Cements Ltd. for a ₹1,500 crore expansion project in Nandyal district and incentives to Websol Renewable Pvt. Ltd. and Tata Power Renewable Energy Ltd.’s projects in Tirupati and Nellore districts.
Further, the Cabinet gave its nod to AP Cluster Development Programme with an outlay of ₹200 crore for setting up 45 MSME Common Facility Centers and making the charging of 5% premium on the Value of Estimated Resources in respect of non-captive commercial leases granted on a nomination basis mandatory.
The Cabinet allowed the withdrawal of additional retail excise tax on bars to align prices with those of retail shops, increasing the MRP of IMFL by ₹10 per bottle (excluding ₹99 MRP IMFL, beer, wine and RTD) to generate an annual revenue of ₹1,391 crore and increasing retailer margin by approximately 1%.
The Cabinet gave consent to the provision of a government guarantee for a ₹5,000 crore loan from NaBFID to AP Jal Jeevan Water Supply Corporation to enable it mobilise financial resources, administrative approval for ₹945 crore for the procurement of student kits (Classes I to X) for 39.52 lakh students for the 2024-25 year, regularising previous orders and permission for transferring a 15 acre plot in Visakhapatnam to AP Tourism Authority for the construction of hill resorts.
The Cabinet authorised AP-CRDA to make consultancy payments to Foster+Partners and gave approval for ₹166 crore for the construction of AP Judicial Academy in Amaravati.
Also, the Cabinet cleared the proposal to bear the burden of true-up electricity charges by repaying to the DISCOMs in six monthly instalments in order to spare the public from a tariff hike, and approved the DPR and gave administrative sanction for the 950 MW pumped storage hydroelectric project at Kamalapadu in Anantapur district with an estimated cost of ₹7,377.