Mumbai, June 26 -- The State Investment Promotion Board (SIPB) cleared investment proposals amounting to Rs305.15 bn from 50 companies across diverse sectors, which are expected to generate an estimated 29,677 jobs in Andhra Pradesh. The board held its 18th meeting at the State Secretariat in Amaravati on Thursday and the meeting was chaired by Chief Minister N. Chandrababu Naidu. Officials said the approvals cover projects in renewable energy, manufacturing, data centres and advanced materials.
Among the major projects cleared was a Rs60 bn renewable energy investment by NTPC Renewable Energy in Anantapur district. A Rs39.36 bn solar manufacturing plant by Premier Energies in Tirupati district, a Rs27.88 bn data centre project by CtrlS Datacenters in Anakapalli district and a Rs22.5 bn advanced materials investment by Proterial India were also approved. Officials said the approvals reflect a mix of large scale capital expenditure and strategic sectoral diversification for the state.
The Chief Minister said the benefits of accelerating industrial growth should reach poor and middle class families. He urged that industrialisation must create opportunities not only for large corporations but also for ordinary citizens and aspiring entrepreneurs. The chair emphasised inclusive development and the need to facilitate supply chain linkages and local employment generation linked to the approved projects.
The proposals received from 50 companies span renewable energy, electronics, manufacturing, logistics and services and will proceed to detailed clearances and land allotment processes. Officials noted the investment pipeline of Rs305.15 bn will advance the state's industrialisation agenda and help build capacity across value chains. Project promoters are expected to move to implementation and the state administration will monitor progress to ensure timelines and employment outcomes are met.
Published by HT Digital Content Services with permission from Construction World.