AP Cabinet approves SIPB `1 lakh crore proposals
The proposals approved by SIPB will provide employment to 85,870
image for illustrative purpose
Amaravati: Giving its stamp of approval to 12th State Investment Promotion Board (SIPB) to new projects worth Rs.1.01 lakh crore in multiple sectors, Andhra Pradesh Cabinet has resolved to make the 30th CII Partnership Summit in Visakhapatnam on November 14 and 15 a grand success.
The proposals approved by SIPB will provide employment to 85,870. The State since the formation of TDP-led NDA coalition has attracted investments amounting to Rs.8.08 lakh crore.
IT and Electronics Minister Nara Lokesh, who heads the Cabinet sub-committee on CII Partnership Summit, exuded confidence that they will sign 410 MoUs worth Rs.9.8 lakh crore.
Chief Minister Naidu told the Ministers and top officials to elaborate arrangements for the delegates coming to the Partnership Summit, serve them authentic Andhra cuisine and exposure to local culture and ensure timely grounding of all investments.
Notably, the Cabinet gave its nod for Rs.7,500 loan for developing the capital city of Amaravati through CRDA. As many as 70 items were included in the agenda.
Among other things, the meeting took stock of Quantum Computing Valley being established at Amaravati and on how to position Andhra Pradesh as the leader in the emerging field and land allocation guidelines for the proposed Drone City in Kurnool, land allocation to various projects and administrative permissions for various development works were approved.
