AP Cabinet gives its nod to SIPB clearance for investment proposals worth Rs.20,000 crore State to position as leader in quantum technology in two to three years

Andhra Pradesh Cabinet held at the Velagapudi Secretariat here on Thursday gave its stamp of approval to the proposals cleared by the State Investment Promotion Board (SIPB) last week for investment of over Rs. 20,000 crore with potential for 56,000 jobs and CRDA decisions to build Governor's Bungalow at Amaravati at a cost of Rs. 169 crore

The Cabinet meeting chaired by Chief Minister N. Chandrababu Naidu approved the construction of a five star hotel by PVR Hospitality at Yendada at a cost of 225 crore, allotted three acres to Hyatt and approved five acres and permitted Hilton for building a five star hotel and international convention centre at Madhurawada in Visakhapatnam as part of the Andhra Pradesh Tourism Policy. Ecosystem is being created for transforming Visakhapatnam into a world-class tourism hub. Lands and incentives were also sanctioned to new star hotels at Tirupati and other places.

Besides the decisions cleared at the 13th SIPB meeting, the Cabinet also okayed new proposals for construction of quantum manufacturing and other projects at Amaravati with an investment of Rs.1421 crore to position Andhra Pradesh as the leader in quantum technology in two to three years .A total of Rs. 8.29 lakh crore investments have been received through 13 SIPB meetings so far, generating a potential for over 7.62 lakh jobs.

The Cabinet meeting took a decision to release the annual financial report for 2024-25. It was decided to link Seed Access Road-E-3 to NH-16 at a cost of Rs.532 crore. ALEAP has been permitted to construct an industrial estate exclusively for women at Koduru in Anakapalle district.The major investments, which got the Cabinet nod included Chinta GreenEnergy Limited's Rs. 8500-crore project, Ganeco Three Energy to invest Rs.2,140 crore and Cipsa Tec India's Rs.1140-crore project.

Briefing the media, Information and Public Relations Minister K. Parthasarathy said the Cabinet, among other things cleared the proposals by Reliance Consumer Products for an investment of Rs. 1622 crore to create 1200 jobs, Ramayapatnam Cargo Reception Terminal at a cost of 1615 crore to generate 1300 jobs, TGV SRAAC's Rs.1216 crore-project to employ 400 jobs and Virupaksha Organics Limited's Rs 1225-crore crore investment with a commitment to provide 1500 jobs.

Chief Minister Naidu at the meeting directed the official machinery to upload land data using block technology and put them in the cloud. He wanted to solve family property disputes and other land issues within a year. The meeting also took stock of the massive investment flow into the State and underlined the need for regular monitoring on the grounding of MoUs signed at the CII Partnership Summit in Visakhapatnam envisaging an investment of Rs.13.25 lakh crore.