7 hrs ago
Andhra Pradesh Board Clears ₹526 Crore Tech Projects, Jobs
Andhra Pradesh approved 10 new technology projects.
Together, the projects are expected to bring in ₹526.25 crore.
They may create 8,896 jobs for people in the state.
Muthoot Fincorp plans to build an AI and technology training centre in Visakhapatnam.
Deloitte plans to open a large operations centre there too.
Quantum Codon plans a research campus in Amaravati.
The campus will use quantum AI for biotechnology and drug discovery research.
The state government says these investments will help make Andhra Pradesh a technology hub.
Andhra Pradesh’s State Investment Promotion Board approved 10 IT and futuristic technology projects.
The projects involve a total investment of ₹526.25 crore and are expected to create 8,896 jobs.
Muthoot Fincorp will invest ₹100 crore in an AI and technology training hub in Visakhapatnam.
Deloitte received approval for a ₹44 crore operations centre with capacity for 2,500 seats.
Quantum Codon will invest ₹167 crore in an Amaravati quantum AI biotechnology campus expected to create 126 jobs.
- Who
- The Andhra Pradesh State Investment Promotion Board, headed by Chief Minister N Chandrababu Naidu, approved the projects.
- What
- Ten IT and futuristic technology projects involving ₹526.25 crore were approved, with 8,896 jobs projected.
- Where
- The projects are located across Andhra Pradesh, including Visakhapatnam, Amaravati and Kadapa.
- When
- The board met on September 18; the report identifies the day as Friday but does not specify a year.
- Why
- The state government says the investments will develop advanced technology industries and create employment opportunities for local youth.
Key facts
- Projects approved
- 10 IT and futuristic technology projects
- Total investment
- ₹526.25 crore
- Projected employment
- 8,896 jobs
- Muthoot Fincorp investment
- ₹100 crore for an integrated AI and technology training hub in Visakhapatnam
- Deloitte investment
- ₹44 crore for an operations centre with 2,500-seat capacity
- Quantum Codon investment
- ₹167 crore for a quantum AI-driven biotechnology innovation campus in Amaravati
- Quantum Codon projected jobs
- 126 jobs
Quotes
Andhra Pradesh State Investment Promotion Board
The state investment board announcing the project approvals and projected employment.
“The state government remains firmly committed to transforming Andhra Pradesh into a powerhouse of cutting-edge technology. By bringing world-class investments in quantum computing, AI and IT services to Amaravati, Visakhapatnam and Kadapa, the administration is empowering local youth with futuristic employment opportunities.”
theprint.in
“State Investment Promotion Board met today and officially cleared 10 major IT and futuristic technology projects. The approved projects entail a total investment of Rs 526.25 crore and are projected to create 8,896 high-quality jobs across the state.”
theprint.in
Sources
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