State Investment Promotion Board approves investments worth ₹1,21,659 crore in Andhra Pradesh

State Investment Promotion Board approves investments worth ₹1,21,659 crore in Andhra Pradesh. They are expected to generate employment opportunities for about 80,000 people. Chief Minister Chandrababu Naidu directs officials to closely monitor the projects until they materialise on the ground.

The State Investment Promotion Board (SIPB) has approved investments worth ₹1,21,659 crore by 10 companies in sectors such as industries, power, and tourism. These investments are expected to generate employment opportunities for 80,104 people.

Andhra Pradesh Chief Minister N. Chandrababu Naidu, who chaired the SIPB meeting on Thursday, directed the officials to ensure that all the industries that signed the investment agreement with the State government immediately begin their groundwork.

He also wanted them to continuously monitor the progress of the approved projects by establishing a tracker. “Closely follow-up on the investment projects until they materialise on the ground,” Mr. Naidu said, emphasising the need for swift approvals and commencement of on-site work for the projects signed.

Mr. Naidu asked the officials to establish Micro, Small, and Medium Enterprises (MSME) parks in each of the 175 Assembly constituencies. As part of the initiative, 26 districts would have one MSME park each. He also emphasised the need to establish five Ratan Tata Innovation Centers across the State in a month.

Premier Energies Limited will invest ₹1,742 crore in Naidupeta with a potential to create 2,000 jobs. Dalmia Cement will invest ₹2,883 crore in Kadapa district to create 354 jobs. Lulu Global International will invest ₹1,500 crore in Visakhapatnam. Satyavedu Reserve Infracity Private Limited will invest ₹25,000 crore in Sri City with a potential to generate about  50,000 jobs.

Similarly, Indosol Solar Private Limited’s investment of ₹58,469 crore is expected to generate 13,050 jobs. Balaji Action Buildwell Private Limited will invest ₹1,175 crore, while AP NGEL Harit Amrit Limited will invest ₹22,000 crore in Anantapur and Sri Sathya Sai districts.

Asta Green Energy Ventures India Private Limited will invest ₹8,240 crore in Annamayya and Kadapa districts, and provide 4,000 jobs. Mayfair Beach Resorts will invest ₹400 crore, while Oberoi Vilas Resort will invest ₹250 crore.