Andhra Pradesh SIPB clears investment proposals worth ₹22,178 crore

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Chief Minister N. Chandrababu Naidu chairing the State Investment Promotion Board meeting at the Secretariat in Amaravati on Friday. | Photo Credit: Special Arrangement

Andhra Pradesh government, during its 21st State Investment Promotion Board (SIPB) meeting chaired by Chief Minister N. Chandrababu Naidu at the Secretariat on Friday, approved 28 industrial proposals with total investments of nearly ₹22,178 crore. These projects have the potential to create employment opportunities for 19,739 youths. 

The investment proposals covered energy, IT and communications, food processing, manufacturing and tourism sectors. The SIPB has approved 387 projects so far, with a potential investment of ₹14.05 lakh crore and employment opportunities for 10.79 lakh people. 

Mr. Naidu directed the officials to create a comprehensive port infrastructure ecosystem along the State’s coastline. He stressed the need to develop Andhra Pradesh as a leading hardware manufacturing destination.

He also directed the officials to attract major investments in advanced sectors such as semiconductors, chip manufacturing and robotics. “The State should go beyond electronics manufacturing and build a complete ecosystem encompassing research, design and manufacturing,” he said. 

The Chief Minister directed officials to facilitate the rapid establishment of research and manufacturing institutions in advanced fields such as quantum technology and high-performance computing. He called for a comprehensive plan for the establishment of cluster industries around drone and space cities and to link them with allied industries. 

He directed that all projects cleared by the SIPB be given a six-month timeline to commence construction work. He called for an integrated ecosystem connecting ports, shipbuilding, logistics and industries, directing officials to focus extensively on the logistics sector.

Tirupati district, supported by Sri City, secured the 10th position in the country in district-wise exports, while East Godavari district was ranked 12, he said. 

Further, Mr. Naidu instructed the officials to explore opportunities to develop the State as a hub for rare earth minerals and lay more emphasis on the generation of solar and wind power.

He said steps should be taken to achieve the net-zero goal at the TTD, focusing on electric buses and charging stations. Officials informed the Chief Minister that permissions had been granted for 511 charging stations in the State. Investments were secured for 113.75 GW out of the State’s targeted 160 GW capacity in green energy. 

Mr. Naidu wanted the officials to expedite the process of setting up escrow accounts to provide incentives to investors during the upcoming CII Partnership Summit, and to ensure that the agreements signed earlier took tangible shape by then. 

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