AP State Investment Board clears 14 projects worth Rs 19,391 crore, 11,753 jobs expected

Amaravati: The 14th State Investment Promotion Board (SIPB) meeting on Tuesday approved 14 investment proposals worth Rs 19,391 crore, which are expected to generate employment for 11,753 youth across Andhra Pradesh.

Efficient governance to build investor confidence

Addressing officials after the meeting, Chief Minister N Chandrababu Naidu lauded their collective efforts in attracting substantial investments during 2025 and urged them to continue working with the same team spirit in 2026 to bring in more projects.

He stressed the need for faster and more efficient governance to sustain investor confidence.

AP plans to buy power at Rs 3.70 per unit by 2029

Highlighting reforms in the power sector, CM Naidu said the State government had absorbed Rs 4,500 crore in true-up charges without passing the burden on to consumers and had also reduced power tariffs by 13 paise per unit.

He added that the government aims to procure power at Rs 3.70 per unit by 2029, noting that improvements in the sector have encouraged several companies, including data centres, to invest in the State.

Suryalanka to be developed on the lines of Maldives

The Chief Minister also called for a major push to tourism development, directing officials to prepare a comprehensive master plan for beach tourism.

He said Suryalanka beach should be developed over a 15-km stretch, while island tourism should be promoted on par with destinations like the Maldives, with a proposal to develop 25,000 rooms. He added that all major tourist destinations should be upgraded with better amenities to attract more visitors.

5,000 acres for Space City project

In the food processing sector, Naidu emphasised the need to establish more units in the Tirupati region, stating that value addition and global marketing would significantly benefit farmers.