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News18
27-07-2025
- 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
25-07-2025
- 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.
Hindustan Times
24-07-2025
- 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.
Time of India
23-07-2025
- Business
- Time of India
Andhra SIPB clears Rs 20,216 cr in fresh investments; 50,600 jobs in pipeline
The ninth SIPB meeting of Andhra Pradesh, chaired by Chief Minister N Chandrababu Naidu on Tuesday, approved four projects worth Rs 20,216 crore, with the potential to generate employment for 50,600 people. According to an official statement, the projects approved by the State Investment Promotion Board were from Sify Infinity Spaces Ltd , Sattva Developers Pvt Ltd, BVM Energy and Residency Pvt Ltd, and ANSR Global Corporation Pvt Ltd. Explore courses from Top Institutes in Please select course: Select a Course Category Digital Marketing Artificial Intelligence Data Analytics Management MBA PGDM Technology healthcare MCA Product Management Operations Management others Finance Project Management Cybersecurity Leadership Data Science Design Thinking Data Science Healthcare Degree Public Policy CXO Others Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details Skills you'll gain: Digital Marketing Strategy Search Engine Optimization (SEO) & Content Marketing Social Media Marketing & Advertising Data Analytics & Measurement Duration: 24 Weeks Indian School of Business Professional Certificate Programme in Digital Marketing Starts on Jun 26, 2024 Get Details "Four more companies have come forward to invest in the state. Prestigious organisations such as Sify, Sattva, BVM, and ANSR have proposed investments worth Rs 20,216 crore, which were approved at the ninth SIPB meeting chaired by the chief minister," the statement said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Cat Keeps Hugging its Friend - Then the Owner Notices Something is Wrong Tips and Tricks Undo As part of the investment proposals, Sify Infinity Spaces Ltd is expected to invest Rs 1,466 crore in the first phase and Rs 15,000 crore in the second phase. Sify will set up a data centre, bringing its total investment to Rs 16,466 crore, it added. Live Events Similarly, Sattva Developers Pvt Ltd is expected to invest Rs 1,500 crore in Visakhapatnam and Madhurawada, while BVM Energy and Residency Pvt Ltd plans to invest Rs 1,250 crore. ANSR Global Corporation Pvt Ltd is also expected to invest Rs 1,000 crore in Visakhapatnam and Madhurawada. So far, the TDP-led NDA government has approved investments worth nearly Rs 6 lakh crore under 113 projects through the SIPB route, it further said.
