Vizag remains most-sought after city, SIPB clears four projects with investment of Rs.20,000 crore

After big ticket projects like ArcelorMittal-Nippon Steel (AMNS) India and India's Green Hydrogen Hub project by NTPC Green Energy LImited , both envisaging an investment of obrt USD40 billion, Visakhapatnam region has remained the most sought after city for mega investors.

This will further get a shot in the arm with the State Investment Promotion Board (SIPB) chaired by Chief Minister N. Chandrababu Naidu, clearing the new projects with a total investment of little over Rs.20,000 crore to create 50,000 jobs on Wednesday evening.

The government later released details on the new investments placed before SIPB. BVM, a division of the Hyderabad-based Kapil Group, will establish a mini smart tech city in Visakhapatnam featuring Grade A+ office spaces, co-working hubs, and residential quarters for employees with an estimated investment of Rs.1250 crore. The Kapil Group brings prior expertise in financial services, luxury hospitality, and IT park development.

Officials said BVM Energy and Residency Pvt. Ltd plans to invest in Yendada area of Visakhapatnam, generating 15,000 job opportunities.

Sify Technologies is a leading IT firm providing solutions in Information and Communication Technology. The company has a turnover of Rs.3,621 crore, while Sify Infinite Spaces Ltd reports a turnover of Rs.1,114 crore. The firm will initiate operations across various phases in Andhra Pradesh, with activities set to commence in October this year.

Sify Infinite Spaces Ltd will invest Rs.1,466 crore in the first phase in Visakhapatnam, creating employment for 200 people. The second phase will see an investment of Rs.15,000 crore, generating 400 additional jobs.

Sattva Developers Pvt. Ltd, with a strong portfolio in residential, commercial, IT, and ITES parks, operates across eight cities and is currently developing office spaces totaling 80 million square feet. Sattva Developers Pvt. Ltd will invest Rs.1,500 crore in Madhurawada, creating employment opportunities for 25,000 individuals.

ANSR Global Corporation Pvt. Ltd is a global leader in designing, building, and managing Global Capability Centers (GCCs). With a workforce of 1.5 lakh employees, the company operates across India, Poland, and the UAE, managing office spaces spanning 12 million square feet. ANSR Global Corporation Pvt. Ltd will invest Rs.1,000 crore in Madhurawada leading to the creation of 10,000 jobs.

Till date, 113 projects amounting to Rs.5,94,454 crore in investments have been approved under the alliance government’s tenure through SIPB meetings. These include 46 projects in the industrial sector, 41 in energy, 11 in tourism, 11 in IT, and 4 in food processing. Collectively, these ventures are expected to generate 5,56,568 employment and livelihood opportunities.

The coalition government’s commitment to generating 20 lakh jobs over five years is steadily bearing fruit. IT Minister Nara Lokesh, Chairman of the Cabinet Sub-Committee on Employment Generation, continues to make significant strides in attracting investment alongside his cabinet colleagues. In a major development, four prominent companies have come forward to invest in Andhra Pradesh.

On this occasion, Lokesh, in his capacity as Chairman of the Employment Generation Sub-Committee, presented detailed insights into the proposed investments. He stated that the entry of such prestigious companies would significantly enhance Visakhapatnam’s standing. He also elaborated on the discussions held with these firms and highlighted their respective strengths.

Following this, the Chief Minister emphasized the need to align Visakhapatnam’s Master Plan with future investments and development needs. He noted that available land in the region is limited and has already been allotted to several companies, including the ArcelorMittal Steel Plant.