The Government of Andhra Pradesh on August 17, 2023, issued a notification to amend the definition of the Mega Project in para 4.1.a of the “Andhra Pradesh Industrial Development policy 2023-27”.
The following amendment has been stated:
• Large - Above Rs.50 Cr in Plant & Machinery up to Rs.1000 Cr.
• Mega - Above Rs.1000 Crore OR Employment above2000.
• Ultra-Mega - Above Rs.3000Cr.and employment above 3000.
It has been informed that several companies have requested for revision of Mega Definition, due to the adoption of Smart Manufacturing practices implemented under Industry-4.0.
Accordingly, the proposal was placed before the State Investment Promotion Board (SIBP) meeting held on July 11, 2023 with the recommendations.
The SIPB has discussed the proposal in detail and decided to revise the definition of Mega project under IDP 2023-27 as “Above 1000 Crore fixed Capital investment (or) employment above 2000”
[Notification No. G.O.Ms. No. 55]
