Investment engine roars: AP clears Rs 29,021-cr projects

Amaravati: The Andhra Pradesh State Investment Promotion Board (SIPB) on Wednesday approved 27 industrial projects involving an investment of ₹29,021 crore, reinforcing the State’s momentum in attracting large-scale investments.

So far, 15 SIPB meetings have cleared proposals worth ₹9.03 lakh crore, which are expected to generate employment for 8.58 lakh people across Andhra Pradesh.

Presiding over the 15th SIPB meeting, Chief Minister N. Chandrababu Naidu directed officials to strictly monitor project execution. He said a Ministers’ Committee should oversee land allotments and warned that approvals would be cancelled if companies failed to commence work within stipulated timelines.

Emphasising governance reforms, Naidu said the Speed of Doing Business Policy must guide all decisions related to industrial and infrastructure projects. The Chief Minister announced that Bharat Mandapam will be developed in Visakhapatnam as an iconic convention centre and positioned as the best in the country. The project was cleared earlier at the CII Partnership Summit by Union Commerce and Industry Minister Piyush Goyal. Naidu said mega projects by reputed companies such as Google, ArcelorMittal-Nippon Steel, and BPCL are in the pipeline and instructed officials to ensure there are no procedural hurdles from the government side. He also directed officials to roll out a warehousing policy soon and prepare an action plan for setting up large-scale EV charging stations in Visakhapatnam, Vijayawada, and Tirupati.

On tourism, the Chief Minister said development should focus on three major regions — Visakhapatnam, Amaravati and Tirupati. He proposed cluster-based tourism development in areas such as Suryalanka, Polavaram, Pulicat, Gandikota, Srisailam, Madanapalle and Horsley Hills, with dedicated plans to attract private investment.