Andhra Pradesh Secures Rs 44,776 Crore Worth Investments in SIPB Meeting

The State Investment Promotion Board chaired by Andhra Pradesh CM Chandrababu Naidu approved Rs 44,776 crore investments for 15 projects, taking the total to over Rs 3 lakh crore. The investments are set to create 20,000 jobs. CM Naidu highlighted efficient tracking and the need for swift project implementations.

Under the leadership of Andhra Pradesh Chief Minister Chandrababu Naidu, the State Investment Promotion Board held its third meeting, culminating in the approval of Rs 44,776 crore worth of investments for 15 promising projects. This ambitious move brings the total value of approved investments to a staggering Rs 3 lakh crore, according to a statement from the Chief Minister's Office (CMO).

These substantial investments are anticipated to generate around 20,000 job opportunities throughout the state. The board also took the opportunity to assess the progress of projects sanctioned in previous sittings, signaling a robust commitment to transformative development. Chief Minister Naidu emphasized the imperative of fostering continuous dialogues with industry leaders to accelerate the materialization of projects, urging officials and ministers to diligently track investments for prompt outcomes.

The Chief Minister's proactive stance extends to reviewing state-level approvals and field-level operations with district collectors, aiming for a seamless investment process. The encouraging response from major national and international companies, including ArcelorMittal and BPCL, underscores the coalition government's success in attracting significant investments. The state is poised for further growth, with projects like ArcelorMittal Steel and BPCL, spearheading economic advancement, slated to break ground imminently.

(With inputs from agencies.)