Latest news with #StateInvestmentPromotionBoard
Hans India
25-07-2025
- 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.
Hans India
24-07-2025
- Business
- Hans India
AP cabinet meet today
Vijayawada: AP cabinet meeting meeting led by Chief minister Chandrababu Naidu is scheduled to be held at Secretariat at 11 a.m today. The cabinet meeting gained importance as Chief Minister Chandrababu is focusing more on attracting investments to state and as part of it the Chief Minister's delegation leaving for Singapore on July 26. The cabinet is likely to approve the investment proposals made in State Investment Promotion Board meeting. The CM also likely to brief the Ministers over his proposed Singapore tour to attract investments. In addition the cabinet likely to discuss on NALA Act. The cabinet also discuss on ongoing works in Amaravati capital and second phase of Amaravati Land pooling.
Time of India
23-07-2025
- Business
- Time of India
Naidu calls for future-ready Vizag master plan amid investment surge
Vijayawada: Chief minister N Chandrababu Naidu emphasised the need for a Visakhapatnam master plan that aligns with future investments and requirements. He noted that several companies are rushing to Visakhapatnam, where very little land is available. Addressing the State Investment Promotion Board (SIPB) meeting here on Wednesday, Naidu stressed the importance of identifying suitable land for the companies coming with investment plans and creating the required infrastructure for future needs. When the officials raised concerns about traffic and infrastructure challenges in cities like Pune and Bengaluru, the chief minister advised them to work on a master plan that could sustain the needs of Visakhapatnam for the next few decades. He instructed officials to work on proactive plans for airport-rail connectivity, highways, and metro projects. Naidu emphasised that, along with setting up companies, an ecosystem should be established for the common people to reside in those areas. SIPB gave a green signal for four new companies to set up their shop in Visakhapatnam. The global brands Sify, Sattva, BVM, and ANSR have proposed investments totalling ₹20,216 crores, which were approved at the SIPB meeting chaired by Naidu. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo These investments are expected to create employment opportunities for 50,600 people. HRD, IT Minister Nara Lokesh, as the chairman of the subcommittee, explained the details of the proposed investments. He mentioned that the arrival of the prestigious companies would further enhance Visakhapatnam's reputation. He also shared insights on the discussions held with these companies, their current status, and strengths and weaknesses. So far, 113 projects were approved in SIPB meetings after the NDA came into power last year. These include 46 projects in the industrial sector, 41 in the energy sector, 11 in tourism, 11 in IT, and 4 in the food processing industries. The proposed projects are bringing in investments worth ₹5,94,454 crores, creating employment opportunities for 5,56,568 people.
The Hindu
18-07-2025
- Business
- The Hindu
Andhra Pradesh's SIPB clears investments amounting to ₹39,473 crore
The 8th State Investment Promotion Board (SIPB) meeting held on Thursday (July 17) evening approved investments in 22 projects amounting to ₹39,473 crore in IT, food processing, energy and tourism sectors. Addressing the meeting, Chief Minister N. Chandrababu Naidu emphasized the need to develop a 'symbiotic ecosystem' around the upcoming industrial projects that would benefit them and the local communities. Ministers Nara Lokesh, K. Atchannaidu, Payyavula Keshav, T.G. Bharat, Anagani Satyaprasad, Gottipati Ravikumar, Kandula Durgesh and Vasamsetti Subhash, Chief Secretary K. Vijayanand and other senior officials took part. The SIPB meetings held so far, including the 8th one, have approved 109 projects with a total investment of ₹5,74,238 crore. The Chief Minister called for an integrated planning of infrastructure around the industrial units, and told the officials to design tourism projects with a broader approach, with due focus on promoting the projects under the PPP model. A comprehensive plan would attract a huge number of tourists to the Srisailam dam, he asserted, and instructed the officials to develop a dedicated employment portal that tracks and reports job opportunities generated in both the public and private sectors. Some of the major investment proposals on Thursday are: Agastya Energy Industries Ltd.'s solar cell/module plant in Kurnool district (₹6,933 crore), Laurus Labs in Anakapalli district (₹5,630 crore), RVR Pvt. Ltd's pumped storage power project in Nandyal (₹4,708 crore), JSW Group's AP Steel Plan in Kadapa district (₹4,500 crore) and ReNew Photovoltaic Pvt. Ltd. in Anakapalli district (₹3,700 crore). ReNew Vikram Shakti Pvt. Ltd. in Kurnool and Nandyal districts (₹3,600 crore), ReNew Vyoman Power Ltd. in Kurnool and Nandyal districts (₹1,800 crore), JSW Neo Energy in Kadapa (₹2,000 crore), Axxelent Pharma Pvt. Ltd. in Sri City (₹1,358 crore), Lulu Shopping Malls in Visakhapatnam and Vijayawada (₹1,222 crore) and Greenlam Ltd. in Naidupet SEZ (₹1,147 crore).
New Indian Express
18-07-2025
- Business
- New Indian Express
AP SIPB approves Rs 5.74 lakh crore investments in 109 projects; aims to create 5 lakh jobs
VIJAYAWADA: Investment proposals worth Rs 5,74,238 crore, related to 109 projects, were approved during the eight meetings of the State Investment Promotion Board (SIPB) held so far since the formation of the coalition government. These projects are expected to generate employment for around five lakh people. At the eighth SIPB meeting, chaired by CM N Chandrababu Naidu at his camp office on Thursday, investment proposals totalling Rs 39,473 crore were approved. These investments, linked to 22 projects, are projected to create 30,899 jobs. The investment proposals cleared by the SIPB are related to sectors like IT, food processing, energy, and tourism. Of these, 11 projects are in industries and commerce, 7 in the energy sector, 3 in tourism, and 1 each in IT and food processing. So far, under the coalition government, 8 SIPB meetings have approved 109 projects. These include 46 in the industrial sector, 41 in energy, 11 in tourism, 7 in IT, and 4 in food processing. Speaking on the occasion, the Chief Minister emphasized the need to develop a symbiotic ecosystem around upcoming industrial projects in Andhra Pradesh, ensuring mutual benefit for industries, local communities, and associated institutions. He noted that such integrated development would not only accelerate industrial growth but also uplift surrounding regions through job creation and institutional linkages. Naidu directed officials to ensure the development of robust infrastructure-roads, ports, airports, and utilities-around all upcoming industrial projects in the state. He stressed that such infrastructure is vital for stimulating economic activity and earning the confidence of local communities and farmers. 'People will part with land only when they are convinced of tangible benefits,' he observed, highlighting the importance of companies adhering to project timelines. Addressing key sectors during the SIPB, meeting, the CM laid special emphasis on integrated planning for tourism development. He instructed officials to design tourism projects with a broader ecosystem approach, expanding activities beyond core attractions to encourage investments.
