Latest news with #9thStateInvestmentPromotionBoard
New Indian Express
24-07-2025
- Business
- New Indian Express
Rs 5,94,454 crore worth 113 projects cleared, creating 5.56 lakh jobs
VIJAYAWADA: The 9th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu at the State Secretariat on Wednesday cleared investment proposals to the tune of Rs 20,216 crore by four industries. The investments will generate employment opportunities for 50,600 persons. To date, 113 projects amounting to Rs 5,94,454 crore in investments have been approved after the formation of the coalition government through SIPB meetings. These include 46 projects in the industrial sector, 41 in energy, 11 in tourism, 11 in IT, and 4 in food processing. Collectively, these ventures are expected to generate 5,56,568 employment and livelihood opportunities. The coalition government's commitment to generating 20 lakh jobs over five years is steadily bearing fruit. IT Minister Nara Lokesh, Chairman of the Cabinet Sub-Committee on Employment Generation, continues to make significant strides in attracting investment. In a major development, four prominent companies have come forward to invest in Andhra Pradesh. Renowned firms such as Sify, Sattva, BVM, and ANSR have proposed investments totalling Rs 20,216 crore. On this occasion, Nara Lokesh, in his capacity as Chairman of the Employment Generation Sub-Committee, presented detailed insights into the proposed investments. He stated that the entry of such prestigious companies would significantly enhance Visakhapatnam's standing. He also elaborated on the discussions held with these firms and highlighted their respective strengths.
Hans India
24-07-2025
- Business
- Hans India
SIPB approves Rs. 20,000-croreinvestments
Vijayawada: The coalition government's commitment to generate 20 lakh jobs over five years is steadily bearing fruit. IT Minister Nara Lokesh, Chairman of the Cabinet Sub-Committee on Employment Generation, continues to make significant strides in attracting investments alongside his cabinet colleagues. In a major development, four prominent companies have come forward to invest in Andhra Pradesh. 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.
