NewKerala.com

Andhra's Rs 1 Lakh Crore Boost: How 26 Mega Projects Will Create 85,000 Jobs

Andhra Pradesh has given the green light to massive investment proposals totaling over Rs 1 lakh crore. The state investment board approved 26 industries that will generate employment for nearly 86,000 people. Chief Minister Naidu emphasized creating 15 industrial zones for organized development across the state. The government also plans to develop Visakhapatnam as a mega-city while boosting infrastructure in Amaravati and Tirupati.

Key Points: Andhra Pradesh Approves Rs 1 Lakh Crore Investment Proposals

  • SIPB approves 26 industries worth Rs 1.02 lakh crore investment
  • Creates employment opportunities for 85,870 people across sectors
  • CM Naidu announces 15 industrial zones for cluster development
  • State targets mega-city development in Visakhapatnam, Amaravati and Tirupati
2 min read

Andhra Pradesh clears investment proposals of Rs 1 lakh crore

Andhra Pradesh clears Rs 1.02 lakh crore investment for 26 industries, creating 85,870 jobs. CM Naidu announces industrial zones and mega-city development plans.

"15 industrial zones should be formed for cluster-wise industrial development - N. Chandrababu Naidu"

Amaravati, Nov 7

Andhra Pradesh State Investments Promotion Board on Friday approved investment proposals to the tune of over Rs 1 lakh crore.

The 12th meeting of the State Investments Promotion Board (SIPB), headed by Chief Minister N. Chandrababu Naidu, approved investments to the tune of Rs 1,01,899 crore for 26 industries. This is expected to create employment opportunities for 85,870 people.

With this, the state so far attracted total investments of Rs 8,08,899 crore, providing employment opportunities to 7,05,870 lakh people, according to an official release.

Addressing the meeting, the Chief Minister directed the officials to see that all the industries grounded as per schedule. He said 15 industrial zones should be formed for cluster-wise industrial development. At the same time, officials should focus on utilising central government incentives to promote industries.

CM Naidu stressed the need for a land bank to promote industries, and if anyone comes forward to offer their land to companies, officials should encourage them to pave the way for industrialisation.

The Chief Minister said that Visakhapatnam should be developed as a megacity merging areas up to Vizianagaram and Anakapalli. Likewise, Amaravati and Tirupati should also be developed to promote tourism and IT.

As some more IT companies are keen on coming to Visakhapatnam after the announcement of Google to set up an AI data centre, the city should be equipped with the necessary infrastructure, he said.

The Chief Minister stated that three IAS officers will be appointed for the three economic corridors in the state.

He asked the officials to make the proposed CII partnership summit at Visakhapatnam on November 14 and 15 a success. Naidu said foundations should be laid for some companies before the partnership summit.

The officials said the CII partnership summit is likely to attract huge investments.

Ministers Nara Lokesh, K Atchannaidu, TG Bharat, P Narayana, Gottipati Ravikumar, Anagani Satyaprasad, BC Janardhana Reddy, Vasamsetti Subhas, Chief Secretary K Vijayanand and other officials were present.

- IANS

Share this article:

Reader Comments

R
Rohit P
Great to see CM Naidu focusing on industrial development. The land bank idea is smart - will prevent delays in project implementation. Visakhapatnam becoming a megacity could transform the entire region!
S
Sarah B
While the investment numbers look impressive, I hope the government ensures environmental safeguards are in place. Rapid industrialization shouldn't come at the cost of our natural resources.
K
Karthik V
As someone from Vizag, I'm excited about Google's AI data centre and more IT companies coming. But the infrastructure needs urgent improvement - roads, water supply, public transport all need upgrading.
M
Michael C
The focus on cluster development through 15 industrial zones makes perfect sense. This approach has worked well in other states. Hope AP can replicate that success! 👍
A
Ananya R
Good to see tourism and IT getting attention in Tirupati and Amaravati. These sectors can create sustainable employment. Hope local entrepreneurs also get opportunities in this growth story.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50