Andhra Pradesh Greenlights Over Rs 1.14 Lakh Crore Investments
In the 11th State Investment Promotion Board meeting, Andhra Pradesh approved investments of Rs 1.14 lakh crore across various sectors. These investments are expected to create 67,000 jobs. Major projects include Raiden Info Tech Data Center's Rs 87,520 crore investment, marking significant foreign direct investment.
- Country:
- India
In a pivotal move for Andhra Pradesh's economic landscape, the 11th State Investment Promotion Board Meeting, chaired by Chief Minister N Chandrababu Naidu, sanctioned investments totaling Rs 1.14 lakh crore. Officials announced that these affirmative decisions span vital sectors including IT, tourism, aerospace, fuel, and food processing.
One of the standout approvals was the Rs 87,520 crore investment by Raiden Info Tech Data Center, lauded as the largest FDI in the nation. This influx of capital is poised to bolster the state's employment market, with expectations of creating approximately 67,000 jobs.
The Chief Minister emphasized the fruition of 15 months' worth of concerted efforts to attract such investments. Additionally, it was decided that special officers would be appointed to oversee and execute large-scale projects. To date, Andhra Pradesh has sanctioned over Rs 7 lakh crore in investments, promising 6.2 lakh jobs, marking a significant stride in its growth trajectory.
(With inputs from agencies.)
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