AP investment board approves Rs 1,21,659 crore worth of projects; CM Naidu pushes for speedy execution

Amaravati: Chief Minister N Chandrababu Naidu has directed officials to ensure that industries that have signed investment agreements swiftly begin ground operations. He emphasised the need for daily monitoring of approved and ongoing projects and instructed the establishment of a tracker for real-time supervision.

At the 4th State Investment Promotion Board (SIPB) meeting held at the Secretariat on Thursday, CM reviewed new investment proposals in industries, power and tourism sectors. The SIPB approved investments totalling Rs 1,21,659 crore from 10 companies, which will generate 80,104 jobs. The chief minister also reviewed the progress of projects approved in the past three SIPB meetings.

MSME Parks in AP

CM Chandrababu Naidu directed officials to establish MSME parks in all 175 constituencies, starting with one park per district in 26 districts immediately. Additionally, he mandated the setup of five Ratan Tata Innovation Centres in the State within a month.

He urged officials to closely follow up on investments until they materialise and to expedite approvals for signed agreements. Ministers and officials were instructed to work proactively to ensure industries commence operations on the ground without delays.

“Only with swift execution can we achieve sustainable growth and tangible results,” CM Chandrababu Naidu stated.

Details of 10 companies approved in the 4th SIPB meeting

Premier Energies Ltd (Naidupeta) – Rs 1,742 crore investment; 2,000 jobs

Dalmia Cement (Kadapa) – Rs 2,883 crore investment; 354 jobs

Lulu Global International (Visakhapatnam) – Rs 1,500 crore investment

Satyavedu Reserve Infracity Pvt Ltd (Sri City) – Rs 25,000 crore investment; 50,000 jobs

Indosol Solar Pvt Ltd – Rs 58,469 crore investment; 13,050 jobs

Balaji Action Buildwell Pvt Ltd – Rs 1,175 crore investment; 1,500 jobs

AP NGEL Harith Amrit Ltd (Anantapur & Sri Satya Sai Districts) – Rs 22,000 crore investment; 8,300 jobs

Aastha Green Energy Ventures (Annamayya & Kadapa Districts) – Rs 8,240 crore investment; 4,000 jobs

Mayfair Beach Resorts & Convention – Rs 400 crore investment; 750 jobs

Oberoi Vilas Resort – Rs 250 Cr investment; 150 jobs

Investment approvals in previous SIPB meetings

First SIPB meeting: Rs 83,987 crore approved (Rs 11,902 crore in power and Rs 72,085 crore in other sectors); 29,585 jobs

Second SIPB Meeting: Rs 1,82,162 crore approved (Rs 83,000 Cr in power and Rs 99,162 crore in other sectors); 2,63,411 jobs

Third SIPB Meeting: Rs 44,776 crore approved (Rs 42,932 crore in power and Rs 1,844 crore in other sectors); 19,580 jobs

Total investments approved in four SIPB meetings: Rs 4,32,584 crore

Total jobs created so far: 3,92,680