SIPB approves Rs. 20,000-croreinvestments
During the 9th State Investment Promotion Board chaired by the Chief Minister at the Secretariat on Wednesday, investment proposals of renowned firms such as Sify, Sattva, BVM, and ANSR, totaling ₹20,216 crore, were approved and these investments are projected to create 50,600 employment and livelihood opportunities.
On this occasion, Lokesh, in his capacity as Chairman of the Employment Generation Sub-Committee, shared his insights into the proposed investments. He stated that the entry of such prestigious companies would significantly enhance Visakhapatnam's standing. He elaborated on the discussions held with these firms and highlighted their respective strengths.
Following this, the Chief Minister emphasized the need to align Visakhapatnam's Master Plan with future investments and developmental needs. He reaffirmed that the available land in the region was limited and had been allotted to several companies, including the ArcelorMittal Steel Plant. He stressed the urgency of identifying suitable land for incoming companies and directed officials to undertake proactive planning to avoid infrastructure bottlenecks.
When officials highlighted urban challenges faced by cities such as Pune and Bengaluru, the Chief Minister asserted that such issues must be avoided in Visakhapatnam. He underscored the importance of forward-looking planning, particularly for airport and rail connectivity, highways, and Metro networks, so that Visakhapatnam could avoid the urban strains seen elsewhere.
While setting up industrial units, it was essential to establish ecosystems that catered also to the needs of residents. Comprehensive planning must ensure that these areas were livable and well-equipped for the general public, he added.
To date, 113 projects amounting to ₹5,94,454 crore in investments have been approved under the alliance government's tenure through SIPB meetings. These include 46 projects in the industrial sector, 41 in energy, 11 in tourism, 11 in IT, and four in food processing. Collectively, these ventures are expected to generate 5,56,568 employment and livelihood opportunities.
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