12th SIPB approves investments of Rs 1,01,899 crore in AP
The 12th SIPB has approved ₹1,01,899 crore worth of investments across key sectors in Andhra Pradesh, boosting industrial development, job creation, and economic growth. The approvals reinforce AP’s position as a top destination for large-scale investments.
12th SIPB approves investments of Rs 1,01,899 crore in AP
The 12th State Investments Promotion Board meeting headed by Chief Minister N. Chandrababu Naidu on Friday approved investments to a tune of Rs.1,01,899 crore in 26 industrial units.
The proposed investment will create employment opportunity to 85,870 people. With this, the State so far attracted total investments of Rs.8,08,899 crore, providing employment opportunity to 7,05,870 lakh people.
Addressing the meeting, the Chief Minister directed the officials to see that all the industries grounded as per schedule. He said 15 industrial zones should be formed for cluster wise industrial development.
At the same time officials should focus on utilizing Central Government incentives to promote industries. He stressed the need for land bank to promote industries and if any one comes forward to offer their land to companies, officials should encourage them to pave way for industrialization.
The Chief Minister said that Visakhapatnam should be developed as a mega city merging areas upto Vizianagaram and Anakapalli. Likewise Amaravati and Tirupati also should be developed to promote tourism and IT. As some more IT companies are keen on coming to Visakhapatnam after the announcement of Google to set up AI data centre in Visakha, the city should be equipped with necessary infrastructure.
He said three IAS officers will be appointed for three economic corridors in the State.
The Chief Minister asked the officials to make success the proposed CII Partnership Summit in Visakhapatnam on November 14 and 15. He said foundations should be laid for some companies before the CII Partnership Summit. The officials said the CII summit is likely to attract huge investments.
Ministers Nara Lokesh, K Atchannaidu, TG Bharat, P Narayana, Gottipati Ravikumar, Anagani Satyaprasad, BC Janardhana Reddy, Vasamsetti Subhas, Chief Secretary K Vijayanand and other officials were present.
