Latest news with #KParthasarathy
News18
2 days ago
- Business
- News18
Andhra Cabinet Clears Rs 80,000 Cr Investment Push, Metro Projects Get Green Light
The minister said these approvals are expected to generate 1.5 lakh jobs, positioning Andhra Pradesh as a preferred destination for investors. The Andhra Pradesh cabinet on Thursday approved investment proposals worth Rs 80,000 crore, including inviting tenders for the Vizag metro and approving the Vijayawada metro, said Information and Public Relations Minister K Parthasarathy. 'Investment proposals worth nearly Rs 80,000 crore were approved. Up to 1.5 lakh jobs are expected from these investments," said Parthasarathy, addressing a press conference at the secretariat. The cabinet approved the Andhra Pradesh Electronic Components Manufacturing Policy 4.O, aimed at developing electronic industries in the state, he said. It also cleared the allocation of 4.45 acres of land to Phenom People Pvt Ltd in Vizag for an investment of Rs 200 crore, expected to generate 2,500 jobs. Further, Parthasarathy said the cabinet approved 3.6 acres of land for Sify Infinity Spaces at Madhurawada IT Hill and another 50 acres at Paradesipalem in Vizag at Rs 50 lakh per acre, facilitating a Rs 16,466 crore investment to establish the port city as a data hub. 'This strategic development will position Visakhapatnam as a key data hub, attracting technology-based firms and enhancing the state's capabilities in cloud computing, data storage, and digital services," he added. The cabinet also approved the allocation of 30 acres in Madhurawada to Sattva Developers Pvt Ltd at Rs 1.5 crore per acre for a proposed investment of Rs 15,000 crore, and 2.5 acres to ANSR Global Corporation Pvt Ltd at Madhurawada for an investment of Rs 1,000 crore. It approved a proposal to invite tenders for up to 40 per cent of phase I works of the Visakhapatnam Metro Rail project, to be executed under a 50:50 government joint venture, at an estimated cost of Rs 11,498 crore, added the minister. Similarly, it granted in-principle approval for phase I of the Vijayawada Metro Rail Project with two corridors, estimated at Rs 10,118 crore. The project will also follow a 50:50 equity funding model, with the tendering process and Notice to Proceed (NTP) subject to approval from the ministry of housing and urban affairs. The cabinet ratified key activities under the Andhra Pradesh Mineral Development Corporation's (APMDC) 2025-26 second tranche bond issuance, including acceptance of a Rs 5,526 crore subscription amount. Among other decisions, it approved the allocation of an 800 MW pumped storage power project at Owk in Nandyal district to RVR Projects Pvt Ltd, the minister said. The cabinet also approved the Green Hydrogen Valley Declaration recently announced in Amaravati. It accepted the report submitted by Justice (Retd) M Satyanarayana Murthy on the stampede that occurred at Padmavathi Park in Bairagipatteda, Tirupati, on January 8, 2025. Additionally, it cleared incentives for the development of luxury hotels by ITC Hotels Ltd and Lansum Leisures & Entertainment LLP in Vizag, among other proposals. . view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
News18
4 days ago
- Business
- News18
Andhra Pradesh: Vizag And Vijayawada Get Green Signal For Mega Rail Projects, Know More
Vijayawada Metro's Phase I with two corridors has received in-principle approval. The Andhra Pradesh cabinet on Thursday approved investment proposals worth Rs 80,000 crore, including inviting tenders for the Vizag metro and approving the Vijayawada metro, said Information and Public Relations Minister K Parthasarathy. The minister said these approvals are expected to generate 1.5 lakh jobs, positioning Andhra Pradesh as a preferred destination for investors. 'Investment proposals worth nearly Rs 80,000 crore were approved. Up to 1.5 lakh jobs are expected from these investments," said Parthasarathy, addressing a press conference at the secretariat. The cabinet approved the Andhra Pradesh Electronic Components Manufacturing Policy 4.O, aimed at developing electronic industries in the state, he said. It also cleared the allocation of 4.45 acres of land to Phenom People Pvt Ltd in Vizag for an investment of Rs 200 crore, expected to generate 2,500 jobs. Further, Parthasarathy said the cabinet approved 3.6 acres of land for Sify Infinity Spaces at Madhurawada IT Hill and another 50 acres at Paradesipalem in Vizag at Rs 50 lakh per acre, facilitating a Rs 16,466 crore investment to establish the port city as a data hub. The cabinet also approved the allocation of 30 acres in Madhurawada to Sattva Developers Pvt Ltd at Rs 1.5 crore per acre for a proposed investment of Rs 15,000 crore, and 2.5 acres to ANSR Global Corporation Pvt Ltd at Madhurawada for an investment of Rs 1,000 crore. It approved a proposal to invite tenders for up to 40 per cent of phase I works of the Visakhapatnam Metro Rail project, to be executed under a 50:50 government joint venture, at an estimated cost of Rs 11,498 crore, added the minister. Similarly, it granted in-principle approval for phase I of the Vijayawada Metro Rail Project with two corridors, estimated at Rs 10,118 crore. The project will also follow a 50:50 equity funding model, with the tendering process and Notice to Proceed (NTP) subject to approval from the ministry of housing and urban affairs. The cabinet ratified key activities under the Andhra Pradesh Mineral Development Corporation's (APMDC) 2025-26 second tranche bond issuance, including acceptance of a Rs 5,526 crore subscription amount. Among other decisions, it approved the allocation of an 800 MW pumped storage power project at Owk in Nandyal district to RVR Projects Pvt Ltd, the minister said. The cabinet also approved the Green Hydrogen Valley Declaration recently announced in Amaravati. It accepted the report submitted by Justice (Retd) M Satyanarayana Murthy on the stampede that occurred at Padmavathi Park in Bairagipatteda, Tirupati, on January 8, 2025. Additionally, it cleared incentives for the development of luxury hotels by ITC Hotels Ltd and Lansum Leisures & Entertainment LLP in Vizag, among other proposals. view comments Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Hans India
4 days ago
- Business
- Hans India
AP Cabinet nod for Rs. 80K-cr investments
Vijayawada: The Andhra Pradesh state Cabinet, chaired by Chief Minister N Chandrababu Naidu, on Thursday approved investment proposals totaling an impressive Rs 80,000 crore. Other key decisions also included the green light for the first phase of Metro Rail projects in Vijayawada and Visakhapatnam, along with a new policy to boost electronics manufacturing. Addressing the media at the Secretariat after the Cabinet meet, Minister for Information and Public Relations K Parthasarathy detailed the Cabinet's resolutions. Among the significant approvals were proposals from the State Investment Promotion Board (SIPB), including an investment of Rs 16,466 crore by SIFY Infinite Spaces Limited to establish a data centre in Visakhapatnam. For this project, 3.6 acres of land will be allotted in Madhurawada, Visakhapatnam. The Cabinet also approved other investment proposals from IT companies. A major strategic move by the government is the approval of the AP Electronics Components Manufacturing Policy 4.0. This policy aims at attracting global investments in the electronics components manufacturing sector, leveraging central government incentives that have previously benefited states like Uttar Pradesh, Gujarat, and Tamil Nadu. Parthasarathy announced the Cabinet's approval to invite tenders for the first phase of the Visakhapatnam Metro Rail project, estimated at a cost of Rs 11,498 crore. Similarly, the Vijayawada Metro Rail Project Phase-I, with an estimated cost of Rs 10,118 crore, also received Cabinet approval. Other crucial decisions included amendments to the AP Regulation of Unauthorised Layouts and Plot Rules., approval for the procurement of tobacco with a limit of 20 quintals per farmer and the acceptance of the report submitted by Justice M Satyanarayana Murthy on the Tirumala stampede. The Chief Minister has directed officials to initiate action against those found to have failed in their duties during the incident. Following the Cabinet meeting, Naidu addressed his ministers, advising them to prioritise the allotment of house sites to the poor. He also stressed that Andhra Pradesh should take a leading role in Green Hydrogen initiatives. Referring to his upcoming Singapore tour, the Chief Minister recalled that Singapore had previously come forward to develop Amaravati, but the previous YSRCP government had 'driven away' the Singapore company by branding them as corrupt. He underscored the critical need for rebuilding 'Brand AP' and re-convincing Singaporean companies to invest in the state.
Hindustan Times
5 days ago
- Business
- Hindustan Times
Andhra cabinet clears ₹80,000 cr investment push, metro projects get green light
Amaravati, The Andhra Pradesh cabinet on Thursday approved investment proposals worth ₹80,000 crore, including inviting tenders for the Vizag metro and approving the Vijayawada metro, said Information and Public Relations Minister K Parthasarathy. Andhra cabinet clears ₹ 80,000 cr investment push, metro projects get green light The minister said these approvals are expected to generate 1.5 lakh jobs, positioning Andhra Pradesh as a preferred destination for investors. "Investment proposals worth nearly ₹80,000 crore were approved. Up to 1.5 lakh jobs are expected from these investments," said Parthasarathy, addressing a press conference at the secretariat. The cabinet approved the Andhra Pradesh Electronic Components Manufacturing Policy 4.O, aimed at developing electronic industries in the state, he said. It also cleared the allocation of 4.45 acres of land to Phenom People Pvt Ltd in Vizag for an investment of ₹200 crore, expected to generate 2,500 jobs. Further, Parthasarathy said the cabinet approved 3.6 acres of land for Sify Infinity Spaces at Madhurawada IT Hill and another 50 acres at Paradesipalem in Vizag at ₹50 lakh per acre, facilitating a ₹16,466 crore investment to establish the port city as a data hub. "This strategic development will position Visakhapatnam as a key data hub, attracting technology-based firms and enhancing the state's capabilities in cloud computing, data storage, and digital services," he added. The cabinet also approved the allocation of 30 acres in Madhurawada to Sattva Developers Pvt Ltd at ₹1.5 crore per acre for a proposed investment of ₹15,000 crore, and 2.5 acres to ANSR Global Corporation Pvt Ltd at Madhurawada for an investment of ₹1,000 crore. It approved a proposal to invite tenders for up to 40 per cent of phase I works of the Visakhapatnam Metro Rail project, to be executed under a 50:50 government joint venture, at an estimated cost of ₹11,498 crore, added the minister. Similarly, it granted in-principle approval for phase I of the Vijayawada Metro Rail Project with two corridors, estimated at ₹10,118 crore. The project will also follow a 50:50 equity funding model, with the tendering process and Notice to Proceed subject to approval from the ministry of housing and urban affairs. The cabinet ratified key activities under the Andhra Pradesh Mineral Development Corporation's 2025-26 second tranche bond issuance, including acceptance of a ₹5,526 crore subscription amount. Among other decisions, it approved the allocation of an 800 MW pumped storage power project at Owk in Nandyal district to RVR Projects Pvt Ltd, the minister said. The cabinet also approved the Green Hydrogen Valley Declaration recently announced in Amaravati. It accepted the report submitted by Justice M Satyanarayana Murthy on the stampede that occurred at Padmavathi Park in Bairagipatteda, Tirupati, on January 8, 2025. Additionally, it cleared incentives for the development of luxury hotels by ITC Hotels Ltd and Lansum Leisures & Entertainment LLP in Vizag, among other proposals. This article was generated from an automated news agency feed without modifications to text.
Hans India
08-07-2025
- Politics
- Hans India
Previous YSRCP govt failed to handover TIDCO houses to beneficiaries
Visakhapatnam: Housing Minister K Parthasarathy criticised the previous the YSRCP government for not handing over TIDCO houses to the beneficiaries during its tenure. Speaking at a District Cooperative Central Bank (DCCB) loan distribution programme organised in Madugula of Anakapalli district on Monday, the Minister said that the NDA government would provide necessary infrastructure in the housing colonies given to the eligible poor. He mentioned that the TDP government had completed 70 per cent of TIDCO houses during its previous tenure. Soon, they will be completed and handed over to the beneficiaries. Further, the Minister informed that this year, the NDA government would provide Rs 1,400 crore to the farmers as loans through DCCB. He stated that the government was working sincerely in implementation of Super Six schemes and working towards the goal of creating 20 lakh jobs in five years. Also, Parthasarathy informed that free RTC bus travel will be provided to women from August 15. 'We will distribute the farmers' insurance funds this month. In addition, we have paid Rs.1,637 crore that the previous government had kept as arrears to paddy farmers,' the Minister said. The Housing Minister assured that the NDA government will implement all schemes as promised. MLA Bandaru Satayanarayana Murthy and DCCB chairman Kona Tatarao were present.
