Key Points

Under the Electronic Components Manufacturing Policy 4.0 (2025-30), electronics component manufacturing companies investing in the state can receive advance incentives, matching incentives, interim support measures, and plug-and-play manufacturing facilities in special clusters.

Companies can also receive incentives and concessions suitable for mega projects. Significant employment generation opportunities will arise in areas like Sri City near Tirupati, Orvakal near Kurnool, Kopparthi, and Hindupur.

The Cabinet meeting, chaired by Chief Minister N. Chandrababu Naidu, also approved investment proposals of about Rs 80,000 crore.

Briefing media persons on the decisions taken by the Cabinet, Minister for Information and Public Relations, Housing Department, Kolusu Parthasarathi said that these investment proposals are expected to create employment opportunities for 1.50 lakh people.

The Cabinet approved the allocation of 4.45 acres of land to Phenom People Private Limited in the IT Park at Madhurawada, Rushikonda Non-SEZ zone, Visakhapatnam district, and to provide incentives under AP IT & GCC Policy (4.0) 2024-29 for a project with Rs 207.5 crore investment, creating 2500 jobs.

It also approved the allocation of 3.6 acres of land at Madhurawada, Visakhapatnam district, at Rs 1 crore per acre and 50 acres at Paradesipalem at Rs 50 lakh per acre to Sify Infinite Spaces Limited, thereby facilitating Rs 16,466 crore investment and 600 employment opportunities.

This strategic development will establish Visakhapatnam as a key data hub, attract technology-based organisations, and improve the state’s capabilities in cloud computing, data storage, and digital services, the minister said.

Sattva Developers Private Limited will be allotted 30 acres at Madhurawada, Visakhapatnam, through APIIC at a subsidised rate of Rs 1.50 crore per acre and will be provided incentives for a proposed investment of Rs 1,500 crore, creating 25,000 jobs.

The Cabinet approved the proposal to allot two land parcels of 2.5 acres and 7.79 acres to ANSR Global Corporation Private Limited at Madhurawada, Visakhapatnam and extend incentives for a proposed investment of Rs 1,000 crore, creating 10,000 jobs.

BVM Energy and Residency Private Limited will be allotted 30 acres of land at Yendada village, Visakhapatnam district, through the APIIC at Rs. 1.5 crores per acre and will be extend incentives for a proposed investment of Rs 1,250 crores. This is expected to create 15,000 jobs.

- IANS