AP clears `1 lakh cr in new investments

Amaravati: Chief Minister Nara Chandrababu Naidu on Friday approved a slew of industrial investments totaling Rs 1,01,899 crore across 26 projects during the 12th State Investment Promotion Board (SIPB) meeting, creating employment for nearly 85,870 persons. The approvals raise the total investments cleared by the SIPB since June 2024 to Rs 8,08,899 crore, generating over 7 lakh jobs in 16 months.

Naidu, chairing the meeting at the Secretariat, directed officials to ensure the immediate grounding of the projects reviewed for clearance and facilitate the investors in obtaining required land and permissions without bureaucratic delay. “Officials must take responsibility for converting approvals into operational industries. Any project that remains idle should have its permissions revoked,” he said. The Chief Minister emphasised developing a robust electronic manufacturing ecosystem, urging officials to focus on semiconductors, drones, and chip industries. He proposed the setting up 15 industrial zones as well and forming a state land bank to meet industrial demand. “The state should complement central incentives and ensure investors face no hurdles in power supply or infrastructure,” he said.

Highlighting urban expansion as a cornerstone of economic growth, Naidu announced plans to transform Visakhapatnam, Tirupati, and Amaravati into integrated mega cities, linking tourism, IT, and industrial development. “Visakhapatnam should evolve into a hub from Anakapalle to Vizianagaram, supported by the upcoming Google Data Center,” he said.

He called for accelerating beach tourism and boosting the hospitality sector, with global hotel chains being invited to invest in the state.

Naidu revealed that three economic corridors will be developed across the State, each overseen by a senior IAS officer to coordinate investment projects and regional development. He directed officials to finalise preparations for the upcoming Visakhapatnam Partnership Summit scheduled for November 14–15, at which several MoUs are expected to be signed.

The major industrial approvals granted during the meeting included AMG Metals and Materials Ltd (Rs 44,000 crore -- 3,000 jobs), Indichip Semiconductors Ltd (Rs 22,976 crore - 1,241 jobs), Super Smelters Ltd (Rs 8,570 crore - 1,000 jobs), and Navayuga Engineering Company Ltd (Rs 7,972 crore -- 2,700 jobs). Other significant approvals went to Reliance Consumer Products, Birlanu Ltd, Bharat Dynamics, Cryon Technology, and Visakha Realty, among others.

Naidu said that Ministers including Deputy Chief Minister Pawan Kalyan and IT Minister Nara Lokesh would lay the foundation stones for SIPB-approved industries in their respective districts to fast-track implementation. Lokesh, Industries Minister TG Bharat, and senior officials attended the meeting.

The Chief Minister reiterated that Andhra Pradesh must position itself as a national hub for advanced manufacturing and digital technology. “This is the beginning of a new industrial renaissance for the state,” Naidu said.

“We are creating a policy environment where investment translates directly into employment and innovation,” he concluded.