Andhra Pradesh’s SIPB clears investments amounting to ₹39,473 crore

The 8th State Investment Promotion Board (SIPB) meeting held on Thursday (July 17) evening approved investments in 22 projects amounting to ₹39,473 crore in IT, food processing, energy and tourism sectors.

Addressing the meeting, Chief Minister N. Chandrababu Naidu emphasized the need to develop a ‘symbiotic ecosystem’ around the upcoming industrial projects that would benefit them and the local communities. Ministers Nara Lokesh, K. Atchannaidu, Payyavula Keshav, T.G. Bharat, Anagani Satyaprasad, Gottipati Ravikumar, Kandula Durgesh and Vasamsetti Subhash,  Chief Secretary K. Vijayanand and other senior officials took part.

The SIPB meetings held so far, including the 8th one, have approved 109 projects with a total investment of ₹5,74,238 crore.

The Chief Minister called for an integrated planning of infrastructure around the industrial units, and told the officials to design tourism projects with a broader approach, with due focus on promoting the projects under the PPP model. A comprehensive plan would attract a huge number of tourists to the Srisailam dam, he asserted, and instructed the officials to  develop a dedicated employment portal that tracks and reports job opportunities generated in both the public and private sectors.

Some of the major investment proposals on Thursday are: Agastya Energy Industries Ltd.’s solar cell/module plant in Kurnool district (₹6,933 crore), Laurus Labs in Anakapalli district (₹5,630 crore), RVR Pvt. Ltd’s pumped storage power project in Nandyal (₹4,708 crore), JSW Group’s AP Steel Plan in Kadapa district (₹4,500 crore) and ReNew Photovoltaic Pvt. Ltd. in Anakapalli district (₹3,700 crore). ReNew Vikram Shakti Pvt. Ltd. in Kurnool and Nandyal districts (₹3,600 crore), ReNew Vyoman Power Ltd. in Kurnool and Nandyal districts (₹1,800 crore), JSW Neo Energy in Kadapa (₹2,000 crore), Axxelent Pharma Pvt. Ltd. in Sri City (₹1,358 crore), Lulu Shopping Malls in Visakhapatnam and Vijayawada (₹1,222 crore) and Greenlam Ltd. in Naidupet SEZ (₹1,147 crore).