2022 roundup: AP was abuzz with development activities as investments poured in

Investment proposals worth Rs. 1,26,748 crores were cleared by the Chief Minister-chaired State Investment Promotion Board (SIPB), which will help create direct employment for 40,330 persons over the next seven years.

By Sri Lakshmi Muttevi  Published on  31 Dec 2022 4:30 AM GMT
2022 roundup: AP was abuzz with development activities as investments poured in

Amaravati: Standing high in Ease of Doing Business (EoDB) rankings and taking big leaps in infrastructure development, 2022 has been an eventful year for the Andhra Pradesh government with industry honchos coming to town along with MoUs, inaugurations, and employment generation activities. In 2022, Chief Minister Y.S Jagan Mohan Reddy inaugurated 51 national highway projects in the state worth Rs. 21,557 crores. The CM also launched the Vijayawada Benz Circle flyover 2, three green field highways, and 30 road over-bridges(RoBs) in the state.

Investments in green energy

Investment proposals worth Rs. 1,26,748 crores were cleared by the Chief Minister-chaired State Investment Promotion Board (SIPB), which will help create direct employment for 40,330 persons over the next seven years. A significant chunk of investment proposals relates to green energy running into Rs.81,000 crores.

The state bagged the first rank in Ease of Doing Business (EoDB) by outsmarting Gujarat, Telangana, and Tamil Nadu and capturing the top slot in the Business Reforms Action Plan (BRAP) implemented by the Centre.

Industrial development

The Chief Minister's Davos trip for the World Economic Forum's annual summit 2022 saw the signing of MoUs worth Rs. 1.25 lakh crores with multinational companies, including industrial bigwigs Adani, Laxmi Mittal, and Greenko CEO. They have boosted the government's plans to produce 20,000 MW green energy at Kurnool and 28 other locations that would provide employment to 35,000 people.

As part of industrial development, the state laid foundation stones for the construction of Apache Manufacturing unit at Inagaluru village in Srikalahasti mandal, Nutech Biosciences Unit in Kadapa district, Rs. 270-crore bioethanol unit at Gummalladoddi at Gokavaram in East Godavari district, Aquaculture University at a cost of Rs. 332 crores and a fishing harbour near Biyyapu Tippa at an estimated cost of Rs. 429.43 crores in West Godavari district and various development works in Kamalapuram constituency at a cost of Rs. 905 crores.

Prime Minister Narendra Modi launched various developmental works worth Rs. 10,700 crores in Visakhapatnam.

Completed projects

The year 2022 also saw the completion of projects such as ITC Group's Welcome Hotel in Guntur, the state-of-the-art centralised kitchen Akshaya Patra set up by ISKCON at Atmakur, Marque companies in Electronic Manufacturing Cluster at Vikrutamala Village near Tirupati, Mekapati Goutham Reddy Sangam Barrage and Nellore Barrage across the Penna river, RAMCO Cement unit in Nandyal district, the Rs. 200-crore Global Spices Processing plant at Vankayalapadu in Guntur district, and Dr. YSR Bus Terminal inaugurated at Pulivendula.

Some of the approved projects are JSW Steel's proposal to set up a steel plant in Kadapa at a cost of Rs. 8,800 crores and pumped hydro storage projects to be set up by Adani Green Energy and Shirdi Sai Electricals. The foundation stone for the steel plant will be laid in January 2023 and Prime Minister Narendra Modi is likely to attend the event.

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