The State Investment Promotion Board (SIPB) meeting, under the chairmanship of Chief Minister N Chandrababu Naidu, gave the approval for investments to a tune of Rs 1.82 lakh crore through nine projects which would provide employment to 2.63 lakh people.

While clearing the investment proposals at the meeting held at Secretariat, the Chief Minister directed the officials to see to it that all the necessary permissions, including allocation of land are granted in time to those who are coming forward to invest in the State.

Among the nine projects, Bharat Petroleum Corporation Limited (BPCL) is setting up a major refinery on an extent of 6,000 acres at Ramayapatnam in Nellore district with an investment of Rs 96,862 crore creating 2,400 jobs.

BPCL is also planning a township with five blocks comprising a learning centre, refinery, petrochemical unit and an administrative block, the officials told the Chief Minister.

The State will get Rs 88,747 crore revenue through this project in the next 20 years, they said while the Chief Minister instructed the officials to take steps to complete the project before 2029.