The Board will act as a single-desk clearance mechanism to ensure faster clearances for land, incentives and other benefits to industries, an official release said.

The decision to set up EDB was taken at a high-level meeting of the State Investment Promotion Board (SIPB) chaired by Chief Minister N Chandrababu Naidu.

It was also decided to set up an Escort Executive Committee to supervise, monitor and track progress of environmental clearances for industries, the release said.

The Chief Minister asked the SIPB to come up with sector-wise policy, apart from a comprehensive industrial policy, to boost investments in the state.

Meanwhile, Principal Secretary (Industries) JSV Prasad said the SIPB approved proposals worth Rs 3,000 crore for setting up industries in different parts of the state that could create employment for a total of 13,725 people.

Asian Paints will set up its manufacturing unit at Visakhapatnam at a cost of Rs 1,818 crore to produce four lakh kilo litres of paint per annum.

The Gujarat Ambuja Exports Limited (GAEL) has proposed to set up a maize processing unit in Kurnool district with an investment of Rs 240 crore and a capacity of 750 tonnes per day, Prasad said.

Universal Coke & Power Limited, promoted by Shri Ram Ventures Limited that is a part of USD 11 billion Shri Ram Group, has come forward to set up non-recovery coke oven plant near the Krishnapatnam port in SPS Nellore district.

It will also set up a 35 MW co-generation power plant using the waste heat generated from the coke oven plant. The total project cost is Rs 725 crore and the plant will create employment for 1,525 people, according to the Principal Secretary.

He said the SIPB also cleared four proposals of Shahi Exports for setting up four garment manufacturing units at Kuppam, Palamaner, Chittoor and Hindupur with an investment of Rs 150 crore.

The four units are expected to create employment for 11,000 people.

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