Andhra Pradesh SIPB okays projects worth Rs 22,177 crore, 19,739 jobs

The Andhra Pradesh SIPB, chaired by CM Chandrababu Naidu, approved 28 industrial proposals worth Rs 22,177.84 crore. The projects are expected to create 19,739 jobs and cover sectors like energy, IT, food processing, and manufacturing.

The Andhra Pradesh State Investment Promotion Board (SIPB), chaired by Chief Minister Chandrababu Naidu, approved 28 industrial proposals involving investments worth Rs 22,177.84 crore, with the projects expected to create employment opportunities for 19,739 people, as per an official statement said.

The proposals approved at the 21st SIPB meeting covered sectors including energy, IT and communications, food processing, manufacturing and tourism.

Focus on Infrastructure and Manufacturing

According to the release, Naidu directed officials to create a comprehensive port infrastructure ecosystem along the State's coastline, integrating ports with logistics, shipbuilding, warehouses, manufacturing and ancillary industries.

He also directed officials to ensure that projects approved by the SIPB move rapidly into production, with each project being given a six-month timeline and efforts made to ensure that work commences within the period. The Chief Minister stressed the need to develop Andhra Pradesh as a leading hardware manufacturing destination and directed officials to attract investments in advanced sectors such as semiconductors, chip manufacturing and robotics.

Developing an Advanced Tech Ecosystem

He called for infrastructure and facilities at electronics hubs including Kopparthy, Tirupati and Lepakshi to attract large-scale investments, while stressing the need to build an ecosystem covering research, design and manufacturing. Minister Nara Lokesh said discussions were underway with Taiwan to develop an electronics and hardware manufacturing ecosystem in Andhra Pradesh, according to the release.

Naidu also called for rapid establishment of research and manufacturing institutions in areas such as quantum technology and high-performance computing. He directed officials to prepare plans for cluster industries around drone and space cities and allied industries.

Logistics, Exports, and Skill Development

The Chief Minister further stressed the need to develop the State as a logistics hub by integrating ports with railways, roads, air cargo and inland waterways.

According to the release, Tirupati district, supported by Sri City, has secured 10th position in the country in district-wise exports, while East Godavari district is ranked 12th. Naidu directed officials to work towards bringing East Godavari among the country's top five districts. The Chief Minister also called for a greater focus on skill development among youth from Class 10 onwards. Officials were directed to undertake skill mapping and integrate skill development initiatives with PM-SETU. The meeting was informed that the Adani Skill Development Centre in Visakhapatnam is providing skill training, including facilities related to civil aviation.

Promoting Entrepreneurship

Naidu also directed officials to prepare an action plan to promote women entrepreneurship and examine opportunities in sectors such as agri-based industries and food processing. He called for promotion of the 'One Family-One Entrepreneur' approach to expand MSMEs across the State.

Energy Sector and Green Initiatives

On energy, the Chief Minister directed officials to examine opportunities to develop Andhra Pradesh as a hub for rare earth minerals and integrate processing, value-added industries, research and manufacturing.

He also called for greater use of solar and wind power, along with alternatives such as pumped storage and battery energy storage. As per an official statement, investments have already been secured for 113.75 GW out of the State's targeted 160 GW capacity in green energy, while permissions have been granted for 511 charging stations. Naidu also directed officials to take measures to achieve the net-zero goal at TTD, with a focus on electric buses and charging stations. The release said a Hydrogen Valley Conference would be held at SRM University on December 17 and 18.

Upcoming Partnership Summit and Overall Progress

The Chief Minister also directed officials to initiate steps for setting up escrow accounts to provide incentives to investors during the Partnership Summit in November. He called for large-scale development of hotels and directed officials to invite reputed international brands to invest in the State.

With 50 days remaining for the Partnership Summit in Visakhapatnam, Naidu directed officials to ensure that agreements signed earlier are grounded by then. In the 21 SIPB meetings held so far, a total of 387 projects have been approved, involving potential investments of Rs 14.05 lakh crore and employment opportunities for 10.79 lakh people. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)