SIPB lclears 19 projects in AP with investment of Rs.28,546 crore

The 7th meeting of the State Investment Promotion Board (SIPB) has approved 19 new projects envisaging an investment of Rs.28,546 crore in Andhra Pradesh. Later Chief Minister N. Chandrababu Naidu announced that additional incentives will be provided to industries and projects that invest in the State's backward regions and emphasized that establishing industries will spur development in those regions, create employment for locals, thereby distribute prosperity across the State. The SIPB meeting was held on Thursday at the Secretariat under the chairmanship of the Chief Minister and approved 19 projects worth Rs.28,546 crore in total. These investments are expected to create employment opportunities for 30,270 individuals. So far, across the seven SIPB meetings, approvals have been given to investments totaling Rs.5,34,684 crore, generating job prospects for 4,73,969 people. The approved projects include Raymond (Rs.1,201 crore investment, 6,571 jobs, various locations), G. Infra Precisions Ltd (Rs.1,150 crore, 299 jobs in Anantapur), Sangam Dairy Pvt. Ltd (Rs.130 crore, 400 jobs/livelihood opportunities in Tirupati), Cognizant Technology Solutions India Pvt. Ltd (Rs.1,583 crore, 8,000 jobs in 3 phases in Visakhapatnam), 3F Oil Palm Pvt. Ltd (Rs. 224 crore, 750 jobs in East Godavari), ABIS Proteins Pvt. Ltd (Rs.350 crore, 790 jobs in Chittoor) and Reliance Consumer Products Ltd (Rs.1,622 crore, 1,200 jobs at Orvakal).

Other projects include Melgawn Leisure & Entertainment LLP (Rs.225 crore, 350 jobs in Eluru), Pavani Hotels (Lemon Tree Premier, Rs.80 crore, 300 jobs inTirupati), Green Park Hotels & Resorts Ltd (Rs.145 crore, 250 jobs at Amaravati), Berry Alloys Ltd (Rs.573 crore, 320 jobs in Sri Sathya Sai district), Chinta Green Energy Pvt. Ltd (Rs.2,323 crore, 540 jobs in Kadapa), Adani Renewable Energy Fifty One Ltd (Rs.8,010 crore, 3,500 jobs in Kadapa), Channel Play Rs.80 crore, 1,100 jobs at Kopparthy) and Adani Hydro Energy Four Ltd & Adani Hydro Energy One Ltd (Rs.10,900 crore, 7,000 jobs , across various districts) Proposals related to additional investments and modifications in projects by BPCL & KSSL, LT Electronics, and Krishnapatnam Power Corporation were also discussed.

Naidu stressed that locals should receive the majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective. He reiterated that the coalition government is committed to balanced development across all regions of Andhra Pradesh. A plan is being drawn up to ensure that incoming investments are distributed evenly across the state.

The Chief Minister made it clear that companies allotted land must establish their units within the stipulated timeline and instructed officials to engage in discussions with representatives of such companies.