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AP Govt Clears Rs 9.36 Lakh Crore Investments, Aims for 9.62 Lakh Jobs

The Andhra Pradesh government has approved investment proposals totaling a staggering Rs 9.36 lakh crore since June 2024. These projects are projected to create employment for nearly 9.62 lakh people across the state. Key approvals include 16 projects in IT, electronics, and communications, alongside major data centre developments in Visakhapatnam and Anakapalli. Specific projects from companies like Credence Realty and PG Technoplast were also cleared, promising thousands of new jobs.

Key Points: Andhra Pradesh Approves Massive Rs 9.36 Lakh Crore Investments

  • Rs 9.36 lakh crore investments cleared
  • 9.62 lakh jobs expected
  • 16 IT/electronics projects approved
  • Major data centre projects in Visakhapatnam
2 min read

Andhra govt clears Rs 9.36 lakh crore investments in 22 months

Andhra Pradesh's TDP-led government has cleared investment proposals worth Rs 9.36 lakh crore in 22 months, targeting over 9.62 lakh new jobs.

"The proposals cleared so far are expected to generate employment for 9.62 lakh people. - Kolusu Parthasarathy"

Amaravati, April 11

The Telugu Desam Party‑led coalition government in Andhra Pradesh has approved investment proposals worth Rs 9.36 lakh crore since assuming office in June 2024, Minister for Information and Public Relations and Housing Kolusu Parthasarathy said on Friday.

Briefing media persons after the Cabinet meeting chaired by Chief Minister Nara Chandrababu Naidu, the minister said the proposals cleared so far are expected to generate employment for 9.62 lakh people.

The Cabinet approved 16 projects in information technology, electronics, and communications, involving an investment of Rs 17,459 crore. These projects are projected to create jobs for 36,411 people.

Among the major decisions was approval for data centre projects in Visakhapatnam and Anakapalli districts.

The Cabinet also cleared Credence Realty's proposal to establish an IT Park in Visakhapatnam. Recognised under the 'IT Campus Developer' category of the Andhra Pradesh IT and Global Capability Centre Policy (4.0) 2024‑29, the project will receive applicable incentives.

Recommended by the State Investment Promotion Board, the project entails an investment of Rs 386.88 crore and is expected to create 6,500 jobs.

Approval was also granted for the allocation of two acres of land to Feuji Software Solutions Private Limited for an IT/ITeS campus in Visakhapatnam under the Andhra Pradesh Land Incentive for Tech Hub Policy (4.0) 2024‑29.

The project involves an investment of ₹425 crore and has the potential to generate 2,500 jobs.

The Cabinet cleared the allocation of 0.4 acres of land to Sritech Data Limited for a Cable Landing Station in Visakhapatnam, to be built with an investment of Rs 1,800 crore.

Parthasarathy said approval was also given to PG Technoplast Private Limited for manufacturing facilities for refrigerators, washing machines, and air conditioners in Phase‑1, along with expansion of PCB vertical capacity, setting up a research and development centre, and a Component Vendor Park in Phase‑2.

The project entails an investment of Rs 1,305 crore and is expected to create 2,910 jobs.

- IANS

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Reader Comments

S
Shreya B
Great to see Visakhapatnam getting so much attention with data centres and IT parks. It has the potential to be a real tech hub. However, I hope the government ensures that the local communities benefit from this development and that environmental clearances are not rushed for the sake of numbers.
R
Rahul R
Approvals on paper are one thing, actual ground-breaking and job creation is another. We've seen big investment announcements before that fizzled out. The government must provide regular, transparent updates on the progress of these projects. The people of AP need real jobs, not just headlines.
P
Priyanka N
Manufacturing facilities for appliances like fridges and ACs is a smart move. It reduces our import dependence and creates a whole ecosystem with the Component Vendor Park. This is how you build a resilient economy. Kudos to the team for bringing such diverse investments!
D
David E
As someone watching India's growth story, this is impressive scale. The Cable Landing Station in particular is strategic infrastructure that will boost digital connectivity for the entire region. Andhra could become a key data gateway. Smart planning.
A
Anjali F
Hope the jobs created are accessible to local graduates and skilled workers, not just people from other states. The government should work with colleges in AP to tailor courses according to the skills these new companies will need. Let's prepare our own talent first.

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