5 hrs ago
Andhra SIPB Clears 28 Projects Worth Rs 22,178 Crore
Andhra Pradesh approved 28 new projects that could bring about Rs 22,178 crore in investment.
The projects may create nearly 20,000 jobs.
They cover industries such as energy, technology, food processing, manufacturing and tourism.
Ten technology projects are worth Rs 526.25 crore and could create 8,896 jobs.
Some projects will support artificial intelligence, quantum technology and biotechnology.
Chief Minister N Chandrababu Naidu asked officials to improve ports, roads, railways, air cargo and waterways.
He also wants the state to attract companies making chips, electronics, robots and solar panels.
Officials were told to connect research and training with new industries.
The state also reported progress toward its green-energy and electric-vehicle goals.
Andhra Pradesh’s State Investment Promotion Board approved 28 proposals involving Rs 22,177.84 crore and projected employment for 19,739 people.
The projects span energy, IT and communications, food processing, manufacturing and tourism.
Ten IT and quantum technology projects account for Rs 526.25 crore and are expected to create 8,896 jobs.
Chief Minister N Chandrababu Naidu urged officials to develop port, logistics, hardware, semiconductor, robotics, research and manufacturing ecosystems.
Key approvals include investments by Muthoot Fincorp, Deloitte and Quantum Codon in Visakhapatnam and Amaravati.
- Who
- Andhra Pradesh’s State Investment Promotion Board, chaired by Chief Minister N Chandrababu Naidu, approved the proposals; IT Minister Nara Lokesh participated in discussions.
- What
- The board approved 28 industrial proposals involving Rs 22,177.84 crore and projected employment for 19,739 people.
- Where
- Across Andhra Pradesh, including Visakhapatnam, Amaravati, Kadapa, Tirupati, Kopparthy and Lepakshi.
- When
- At the 21st State Investment Promotion Board meeting, reported on September 18; the reports differ on whether the meeting was held on Thursday or Friday.
- Why
- To attract investment, create jobs and build connected ecosystems for technology, manufacturing, ports, logistics and green energy.
Key facts
- Approved proposals
- 28 industrial proposals
- Total investment
- Rs 22,177.84 crore
- Projected employment
- 19,739 jobs
- IT and quantum projects
- 10 projects worth Rs 526.25 crore
- IT and quantum employment
- 8,896 projected jobs
- Notable investments
- Muthoot Fincorp: Rs 100 crore; Deloitte: Rs 44 crore; Quantum Codon: Rs 167 crore
- Green-energy progress
- Investments secured for 113.75 GW of a targeted 160 GW capacity, with permissions for 511 charging stations
- Implementation target
- Officials were asked to give each approved project a six-month timeline and ensure work begins within that period
Quotes
Andhra Pradesh state government
The state government, quoted through the SIPB press release.
“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
“Major global brands like Deloitte and Muthoot Fincorp are expanding their footprints in Visakhapatnam with high-capacity seating operations.”
theprint.in
Sources
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