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India Today
10 hours ago
- Business
- India Today
Chandrababu Naidu clears Rs 28,546 crore projects, to create 30,000 jobs in state
In a boost to industrial development, the Andhra Pradesh government, under the leadership of Chief Minister N Chandrababu Naidu, approved investment proposals worth Rs 28,546 crore at the 7th meeting of the State Investment Promotion Board (SIPB). The 19 approved projects are expected to generate over 30,000 jobs across the this round of approvals, the cumulative investments sanctioned under the Naidu-led government have now reached Rs 5.34 lakh crore, with an estimated 4.73 lakh job opportunities created across all seven SIPB meetings held so The cleared proposals span key sectors including information technology, renewable energy, manufacturing, and hospitality. Notable names among the investors include Cognizant, Adani Energy, Raymond, and Reliance, among others, signaling strong industry confidence in Andhra Pradesh's growth the major investments, Cognizant is set to establish a state-of-the-art IT campus in Visakhapatnam with a Rs 1,582 crore investment that will create 8,000 jobs. Raymond's Rs 1,202 crore proposal will lead to 6,571 jobs, following earlier discussions between IT Minister Nara Lokesh and Raymond Chairman Gautam Hari Singhania. The Adani Group has committed over Rs 18,900 crore in green and hydropower projects across Kadapa and other districts, while Reliance Consumer Products will invest Rs 1,622 crore in Orvakal, generating 1,200 projects cleared include ventures in logistics, agro-processing, precision manufacturing, and luxury hospitality, with investments spread across regions like Anantapur, Chittoor, Tirupati, Amaravati, East Godavari, and Sri Sathya Sai district. advertisementChairing the meeting, Chief Minister Naidu emphasised the importance of balanced regional development and youth empowerment, stating that locals should be the primary beneficiaries of the jobs being stressed that skill development must be treated as a core policy objective, aligning with the government's broader vision for inclusive economic growth. The swift pace of investment approvals is seen as a result of targeted outreach efforts led by IT Minister Nara Lokesh, who has been actively engaging with industry leaders to position Andhra Pradesh as a top destination for by Leju Joy. R IN THIS STORY#Andhra Pradesh
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Business Standard
15 hours ago
- Business
- Business Standard
Andhra clears ₹28,546 cr investments; Adani Group to spend ₹18,910 cr
The projects were approved at the seventh meeting of the State-Level Investment Promotion Board (SIPB) on Thursday. These include a ₹8,010 crore project in Kadapa by Adani Renewable Energy and investments worth ₹10,900 crore in various districts by Adani Hydro Energy Four and Adani Hydro Energy One. Adani's investments are expected to create 10,500 jobs. IT company Cognizant Technology Solutions will invest almost Rs 1,582.98 crore to set up a campus in Visakhapatnam, where the state government will give it land for a nominal rate of just 99 paisa. The project is expected to create 8,000 jobs over the years. Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority. Naidu said Andhra 'locals' should receive the majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective. He reiterated that his coalition government is committed to balanced development across all regions of Andhra Pradesh. A plan is being drawn up to ensure that incoming investments are distributed evenly across the state. The Chief Minister made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilised to promote entrepreneurs under the 'One Family – One Entrepreneur' initiative. The Chief Minister emphasised that various companies that have signed agreements in the hospitality sector should expedite their construction work. He also directed that necessary infrastructure be developed near industrial projects. Going forward, he suggested that at least two SIPB meetings should be conducted every month, with a target of holding at least 25 meetings annually.
New Indian Express
17 hours ago
- Business
- New Indian Express
SIPB gives green signal to 19 projects worth Rs 28,546 crore
VIJAYAWADA: The seventh State-Level Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu at the State Secretariat on Thursday, approved investment proposals for 19 projects worth Rs 28,546 crore. These investments are expected to generate employment opportunities for 30,270 people. So far, across the seven SIPB meetings, investment proposals worth Rs 5,34,684 crore have been approved, creating job prospects for 4,73,969 individuals. The board also reviewed proposals for additional investments and modifications from BPCL & KSSL, LT Electronics, and Krishnapatnam Power Corporation. Speaking on the occasion, the Chief Minister announced that additional incentives would be extended to industries and projects investing in the state's backward regions. He emphasized that setting up industries in these areas would promote development and provide employment to the local population. The Chief Minister underlined that local residents should be given priority in employment for upcoming industrial projects. He stated that youth skill development must be a key policy focus. He reiterated the coalition government's commitment to ensuring balanced development across all regions of Andhra Pradesh and mentioned that a plan is being prepared to ensure equitable distribution of investments throughout the state.
Hans India
18 hours ago
- Business
- Hans India
SIPB okays projects worth Rs. 28,546-crore investment
Vijayawada: Chief Minister N Chandrababu Naidu, who chaired the 7th State-level Investment Promotion Board (SIPB) meeting on Thursday, approved 19 projects involving Rs 28,546 crore investment in total. He declared that additional incentives would be provided to industries and projects located in the state's backward regions. The projects cleared on Thursday are expected to create employment opportunities for 30,270 individuals. So far, across the seven SIPB meetings, approvals have been given to projects involving investments totaling Rs 5,34,684 crore, generating job prospects for 4,73,969 people. The Chief Minister emphasised that establishing industries would spur development in those regions, create employment for locals, and ensure balanced prosperity across the state. The Chief Minister stressed that locals should receive majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective, he added. The Chief Minister reiterated that the coalition government was committed to balanced development across all regions of Andhra Pradesh. Naidu also made it clear that companies, which were given land, must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. He mentioned that MSME parks were being established in every Assembly constituency across the state. They should be utilised to promote entrepreneurs under the 'One Family – One Entrepreneur' initiative. Naidu also said that tourism, IT, and food processing industries should become key drivers of development. He noted that the State currently had immense potential in these sectors and called for promoting entrepreneurship accordingly. He proposed developing boat tourism projects near Papikondalu along with the Polavaram Project. He instructed officials to explore operating luxury boats and cruise ships in Visakhapatnam and other coastal areas of the state in collaboration with interested companies. The Chief Minister underlined that various companies that had signed MoUs in the hospitality sector should expedite their construction work. He directed that necessary infrastructure be developed near industrial projects.
Business Standard
23-05-2025
- Business
- Business Standard
Bondada Engineering receives solar power project of Rs 9000 cr
From Govt. of Andhra Pradesh Bondada Engineering has received a Government Order (GO) from the Government of Andhra Pradesh Energy Department for the allocation of 2000 MW AC / 2600 MWp DC Solar Power capacity at various locations across Ananthapuramu and Sri Sathya Sai districts. The Company had submitted detailed proposals for establishing solar power projects aggregating to the above-mentioned capacity in the following locations: - Sri Sathya Sai District: Villages in Roddam and Kothacheruvu Mandals - Ananthapuramu District: Villages in Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala Mandals These proposals were considered in the State Investment Promotion Board (SIPB) meeting held on May 15, 2025, during which the SIPB approved the allocation of the proposed solar power capacity. The allocation is subject to ensuring no overlap with areas already allotted to other developers for renewable energy (RE) projects or wind resource assessment studies. Furthermore, the project is to be implemented within 24 months, in accordance with the guidelines outlined in the Andhra Pradesh Integrated Clean Energy Policy 2024. The present order of Rs. 9,000 crore shall increase the order book of the Company to approximately Rs. 14,000+ crore. Apart from this the Company expects to add a revenue of Rs. 1,160 crore from IPP from FY 2029 onwards.
