SIPB nod for Rs. 53,922-cr investments across AP

Amaravati: The State Investment Promotion Board (SIPB), which met here on Thursday under the chairmanship of Chief Minister Nara Chandrababu Naidu, cleared 30 projects involving total investments of Rs 53,922 crore. These projects, which span various sectors, including aerospace, IT, energy, food processing, and MSMEs, are expected to generate 83,437 direct jobs.

Major industrial proposals cleared included an investment of Rs 1,110 crore by Apollo Tyres, which is likely to generate 500 jobs in Chittoor district. While Mother Dairy Limited will invest Rs 427 crore with potential to generate 180 jobs, ACE International Limited will invest Rs 786 crore, thereby creating 1,000 jobs. SIPB also cleared Chinta Green Energy Limited (Kadapa)’s Rs 15,050-crore investment which will churn out 8,400 jobs. Besides, Navayuga Engineering Limited will invest Rs 15,455 crore.

Speaking on the occasion, the Chief Minister said that industrial projects approved thus far would be fast-tracked to ensure their swift completion. He stressed that the state's Speed of Doing Business policy should be matched by an equally rapid grounding of projects.

Naidu also said he would personally review the progress of these projects every month. He also instructed ministers to conduct field inspections to monitor their status. He advised officials to analyze the time taken for previously approved projects to begin production and to address any delays by coordinating directly with company representatives.

Naidu said that he was personally in talks with Mahindra to establish an EV vehicle manufacturing plant in Andhra Pradesh and called on officials to be equally proactive.

He highlighted the critical role of the food processing industry in the state, given its agricultural base. He emphasised that these industries would add value to agricultural products and create jobs. He pointed out the potential for large-scale investments in horticulture, especially in the Rayalaseema region, and urged officials to hold discussions with major companies.

Further, the Chief Minister mandated that MSME parks should be established in all constituencies that currently lack them within the next three months. He proposed that these industrial parks should be developed as ‘business centres’ to create a complete ecosystem.

He also suggested involving local farmers and landowners as stakeholders to provide them with a steady income.

Naidu directed officials to map out mega and medium-sized industrial parks across constituencies and link them to the Ratan Tata Innovation Hubs (RTIH). He also called for action to address delays in approvals for certain industries within existing autonagars (industrial estates) and stressed the importance of attracting investments in IT, tourism, and mining-based industries.

On the IT front, the CM suggested creating more ‘work-from-home’ opportunities and ‘co-working’ spaces.