SIPB of AP approves 22 investment projects worth Rs.39,473 crore
The State Investment Promotion Board (SIPB) of Andhra Pradesh has approved 22 major investment projects worth ₹39,473 crore, expected to generate significant employment and boost industrial growth in the state.
SIPB of AP approves 22 investment projects worth Rs.39,473 crore
Andhra Pradesh State Investment Promotion Board (SIPB) has cleared investment proposals by 22 new projects across the State envisaging a total investment of Rs.39,473 crore.
The meeting chaired by Chief Minister N. Chandrababu Naidu here on Thursday evening cleared the proposals to be placed before the next Cabinet meeting for formal approval. The new projects will create an employment opportunity for 30,899.
The projects Approved in 8th SIPB meeting include ReNew Vyoman Power Ltd.(Rs.1,800 crore in Kurnool & Nandyal, 380 jobs), ReNew Vikram Shakti Pvt. Ltd.(Rs.3,600 crore in Kurnool & Nandyal, 760 jobs), JSW Neo Energy (Rs.2,000 crore in Kadapa, 1,380 jobs), RVR Pvt. Ltd.(Rs.4,708 crore, pumped storage power project in Nandyal, 1,200 jobs), Greenlam Ltd. (Rs.1,147 crore in Naidupeta SEZ, Tirupati, 1,475 jobs), Axelent Pharma Pvt. Ltd. (Rs.1,358 crore in Sri City, Tirupati, 1,770 jobs), Agastya Energy Industries Ltd.(Rs.6,933 crore, solar cell/module plant in Kurnool, 2,138 jobs), JSW AP Steel Plant (Rs.4,500 crore in Kadapa (in 2 phases), 2,500 jobs), ReNew Photovoltaic Pvt. Ltd.(Rs.3,700 crore,r photovoltaic plant in Anakapalli, 1,200 jobs), Laurus Labs (Rs.5,630 crore in Rambilli, Anakapalli, 6,350 jobs), Lulu Shopping Malls International Ltd.(Rs.1,222 crore in Vizag & Vijayawada, 1,500 jobs).
So far, under the coalition government, eight SIPB meetings have approved 109 projects. These include 46 in the industrial sector, 41 in energy, 11 in tourism, seven in IT, and four in food processing.These have brought in total investments of Rs.5,74,238 crores and are expected to provide 5,05,968 employment opportunities.
In his remarks, Naidu emphasised the need to develop a symbiotic ecosystem around upcoming industrial projects in Andhra Pradesh, ensuring mutual benefit for industries, local communities, and associated institutions.The Chief Minister said that such integrated development will not only accelerate industrial growth but also uplift surrounding regions through job creation and institutional linkages.
The meeting was attended by Ministers Nara Lokesh, K. Atchannaidu, Payyavula Keshav, TG Bharat, Anagani Satyaprasad, Gottipati Ravikumar, Kandula Durgesh, and Vasamsetti Subhash. Chief Secretary K. Vijayanand and senior officials from various departments attended the SIPB meeting.
The State-Level Investment Promotion Board earlier approved investments worth Rs.39,473 crores in sectors like IT, food processing, energy, and tourism. Of these, 11 projects are in industries and commerce, seven in the energy sector, three in tourism, and one each in IT and food processing. These 22 projects are expected to provide 30,899 employment opportunities.
To ensure transparency and accountability in job creation, CM Chandrababu Naidu instructed the development of a dedicated employment portal that tracks and reports job opportunities generated across both public and private sectors.
