Andhra Pradesh SIPB Approves ₹31,167 Crore Investment Proposals
The State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister N. Chandrababu Naidu, has approved investment proposals worth ₹31,167 crore. The approvals were granted during a meeting held on Thursday.
Amaravati: The State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister N. Chandrababu Naidu, has approved investment proposals worth ₹31,167 crore. The approvals were granted during a meeting held on Thursday.
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Investment Across Multiple Sectors
A total of 17 organisations received approval for investments in key sectors such as:
- Food Processing
- Information Technology (IT)
- Energy
These investments are expected to generate 32,633 jobs in the state.
CM Emphasizes Timely Implementation
Chief Minister Naidu stressed the importance of:
- Ground-level execution of approved investments
- Timely commencement of production by industries
- Phase-wise monitoring of each project’s progress
He directed officials to track and present data on companies that have begun production, and the number of jobs created so far, in the next SIPB meeting.
Job Transparency and Monitoring Portal
To ensure transparency, the Chief Minister instructed the creation of a dedicated portal that would show:
- How many jobs each organization has provided
- Details on who has been employed
Appeal for IT Land Allocation
Minister for Education, IT, and Electronics Nara Lokesh, present at the meeting, appealed to the Chief Minister to allocate land at nominal rates for IT companies. He suggested that this move would boost IT investments in Andhra Pradesh.
The Chief Minister responded positively, stating that the state’s IT policy would be amended accordingly.
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Investment Progress Under New Government
Since the TDP-led NDA government came to power, five SIPB meetings have been held. In total:
- 57 organisations have received approval
- ₹4,71,379 crore worth of investments cleared
- 4,17,188 jobs expected to be created
This is in contrast to the previous YSRCP government, which conducted only five SIPB meetings in five years.
Key Approvals in Latest Meeting
Some of the notable investment approvals on Thursday include:
- Ma Mahamaaya Industries Limited
- ₹2,063 crore investment in Vizianagaram
- 1,000 jobs to be generated
- Premier Energies Limited
- ₹4,200 crore investment at MP SEZ, Naidupet
- 1,500 jobs expected
- LG Vendors
- ₹839 crore investment at Sri City, Tirupati district
- 692 jobs to be created
