SIPB gives nod for `31,167-cr investments by 17 companies

 Vijayawada: The fifth State Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu, approved investments from 17 organisations totaling ₹31,167 crore across sectors such as food processing, IT, and energy, which are expected to generate 32,633 jobs.

The Chief Minister instructed officials to present detailed updates at the next SIPB meeting on how many companies have commenced production and how many jobs have been created so far. Naidu emphasised that the actual materialisation of investments on the ground is more important than signing MoUs. He instructed the officials to take concrete steps to ensure the realisation of investment proposals.

The CM underlined the importance of timely production commencement by approved industries. He directed officials to obtain clear timelines for the launch of production from each project and to closely monitor their phase-wise progress. He also directed the creation of a dedicated portal to display information on employment generation — specifying which organisations have created how many jobs and the demographics of the beneficiaries. Minister for Education, IT, and Electronics, Nara Lokesh, who also participated in the meeting, appealed to the Chief Minister to allocate land to IT companies at nominal prices. He argued that this would help attract more IT investments to the state. Responding positively, the Chief Minister asked officials to amend the IT policy accordingly.

Since the formation of the TDP-led NDA government, five SIPB meetings have been held, during which approvals have been granted to 57 organizations for investments totaling ₹4,71,379 crore, with a projected employment generation of 4,17,188 jobs. In contrast, the previous government conducted only five SIPB meetings over five years.

The investments approved on Thursday were Ma Mahamaya Industries Limited, Vizianagaram district – ₹2,063 crore investment to generate 1,000 jobs, Premier Energies Limited, MP SEZ, Naidupet – ₹4,200 crore investment to provide 1,500 jobs, LG Vendors, Sri City, Tirupati district – ₹839 crore investment to create 692 jobs and 14 other companies also received approvals during the meeting.