9 months ago
Minister Lokesh Inaugurates Projects Worth Over Rs. 3,800 Crore in Visakhapatnam
A government minister in Visakhapatnam held a special ceremony to start building new businesses.
These new projects are expected to bring a lot of money, over 3,800 crore rupees, into the city.
The minister also said that big companies like Google and ArcelorMittal are planning to invest a lot of money in the state.
These new projects and investments are expected to create about 30,000 new jobs for people.
The goal is to make Visakhapatnam a super important place for technology and businesses, like a 'California of the East'.
The minister also mentioned that a new airport is planned to help bring even more businesses to the area.
The government is working hard to create many jobs for everyone.
Education Minister Nara Lokesh laid the foundation for projects totaling over Rs. 3,800 crore in Visakhapatnam.
These investments are anticipated to generate approximately 30,000 direct job opportunities.
Google announced a $15 billion investment in Andhra Pradesh, and ArcelorMittal committed Rs. 1.35 lakh crore.
The minister aims to establish Visakhapatnam as an AI capital, data center capital, and IT hub.
Key projects include investments from K Raheja Corp, World Trade Centre (Kapil Group/BVM Energy), Sails Software Solutions, iSpace Software Solutions, and Phenom People Pvt Ltd.
- Who
- Education Minister Nara Lokesh
- What
- Inaugurated new projects and performed foundation stone laying ceremonies, announcing significant investments and job creation initiatives.
- Where
- Visakhapatnam
- When
- Thursday
- Why
- To signal substantial investments worth over Rs. 3,800 crore, create an estimated 30,000 direct jobs, and position Visakhapatnam as a future hub for AI, data centers, and IT.
Government Perspective
Economic Development & Job Creation Goals
Vision for Visakhapatnam
Government Perspective
Minister Lokesh envisions Visakhapatnam as an AI capital, data center capital, and IT hub, aiming for rapid development comparable to Hyderabad within ten years and positioning Andhra Pradesh as the 'California of the East'.
Economic Development & Job Creation Goals
The projects initiated, including the World Trade Centre and investments from major companies like Google and ArcelorMittal, are expected to drive significant economic growth and job creation, fulfilling the government's promise of 20 lakh jobs.
Investment Attraction
Government Perspective
Lokesh highlighted the ease of securing major investments, citing Google's $15 billion and ArcelorMittal's Rs.1.35 lakh crore commitments, with the latter resolved through high-level discussions involving the Prime Minister.
Economic Development & Job Creation Goals
The ongoing initiatives aim to attract substantial foreign and domestic investment, with recent figures suggesting $120 billion in the last 16 months, surpassing the previous decade's investments.
Key facts
- Event
- Bhoomi Puja for new companies and projects, Foundation laying ceremonies
- Date
- Thursday
- Chief Guest
- Nara Lokesh, Education Minister of Andhra Pradesh
- Total Investment
- Over Rs. 3,800 Crore
- Projected Direct Jobs
- 30,000
- Google Investment Announcement
- $15 Billion in AP
- ArcelorMittal Investment Commitment
- Rs. 1.35 Lakh Crore in AP
- Bhogapuram Airport Completion Target
- June 2026
Timeline
Sify will build a massive Visakhapatnam data center with a ₹16,466 crore investment.
This investment fueled growth and approvals for major city projects.
This positive environment allowed for a World Trade Center groundbreaking.
Minister Lokesh attended, launching a facility to boost global business.
Quotes
Nara Lokesh
Education minister of Andhra Pradesh
“Google representatives came to Visakhapatnam. We held a series of discussions with them and brought them to the state in 13 months. We will lay the stone of the Google AI Hub by the month-end.”
deccanchronicle.com
“with just a Zoom call.”
deccanchronicle.com
