Andhra Pradesh Approves 15 Projects Worth Rs. 44,776 Crore to Create Over 19,500 Jobs
In a significant move to boost the state’s economy, the Andhra Pradesh State Investment Promotion Board (SIPB) approved 15 major projects during its third meeting, chaired by Chief Minister N. Chandrababu Naidu. The approved projects, worth a total investment of Rs. 44,776 crore, are expected to generate approximately 19,580 jobs.
The majority of the projects focus on the renewable energy and food processing sectors, areas critical to both sustainable development and the state’s industrial growth. This decision adds to the growing momentum of investment in Andhra Pradesh, with SIPB’s total approved investments surpassing Rs. 3 lakh crore over the past seven months.
Since the Telugu Desam Party-led NDA government came to power in the state, SIPB has approved projects totaling Rs. 3,10,925 crore. These ventures are expected to create over 3 lakh jobs, demonstrating the success of the state’s pro-business policies.
During the meeting, Chief Minister Naidu emphasized the importance of ensuring these projects are swiftly grounded. He directed officials to expedite the granting of necessary permissions and follow through with the “Speed of Doing Business” initiative to ensure the timely execution of these investments. He also stressed the need for a state-level convener to oversee the smooth progress of projects and address any challenges at the grassroots level.
Additionally, Naidu called for enhanced attention on the tourism sector, setting a target to achieve at least 20% progress in tourism-related initiatives.
With these approvals, Andhra Pradesh is making significant strides toward becoming a key investment hub, with an eye on both job creation and sustainable development.
