Latest news with #State-LevelInvestmentPromotionBoard
&w=3840&q=100)
Business Standard
11 hours ago
- Business
- Business Standard
Andhra clears ₹28,546 cr investments; Adani Group to spend ₹18,910 cr
The projects were approved at the seventh meeting of the State-Level Investment Promotion Board (SIPB) on Thursday. These include a ₹8,010 crore project in Kadapa by Adani Renewable Energy and investments worth ₹10,900 crore in various districts by Adani Hydro Energy Four and Adani Hydro Energy One. Adani's investments are expected to create 10,500 jobs. IT company Cognizant Technology Solutions will invest almost Rs 1,582.98 crore to set up a campus in Visakhapatnam, where the state government will give it land for a nominal rate of just 99 paisa. The project is expected to create 8,000 jobs over the years. Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority. Naidu said Andhra 'locals' should receive the majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective. He reiterated that his coalition government is committed to balanced development across all regions of Andhra Pradesh. A plan is being drawn up to ensure that incoming investments are distributed evenly across the state. The Chief Minister made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilised to promote entrepreneurs under the 'One Family – One Entrepreneur' initiative. The Chief Minister emphasised that various companies that have signed agreements in the hospitality sector should expedite their construction work. He also directed that necessary infrastructure be developed near industrial projects. Going forward, he suggested that at least two SIPB meetings should be conducted every month, with a target of holding at least 25 meetings annually.
New Indian Express
13 hours ago
- Business
- New Indian Express
SIPB gives green signal to 19 projects worth Rs 28,546 crore
VIJAYAWADA: The seventh State-Level Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu at the State Secretariat on Thursday, approved investment proposals for 19 projects worth Rs 28,546 crore. These investments are expected to generate employment opportunities for 30,270 people. So far, across the seven SIPB meetings, investment proposals worth Rs 5,34,684 crore have been approved, creating job prospects for 4,73,969 individuals. The board also reviewed proposals for additional investments and modifications from BPCL & KSSL, LT Electronics, and Krishnapatnam Power Corporation. Speaking on the occasion, the Chief Minister announced that additional incentives would be extended to industries and projects investing in the state's backward regions. He emphasized that setting up industries in these areas would promote development and provide employment to the local population. The Chief Minister underlined that local residents should be given priority in employment for upcoming industrial projects. He stated that youth skill development must be a key policy focus. He reiterated the coalition government's commitment to ensuring balanced development across all regions of Andhra Pradesh and mentioned that a plan is being prepared to ensure equitable distribution of investments throughout the state.
