SIPB Clears Rs 30,515-Cr Investments in Andhra Pradesh, 29,677 Jobs Expected
Amaravati, June 18 (TNT): The 18th meeting of the State Investment Promotion Board (SIPB), chaired by Andhra Pradesh Chief Minister N. Chandrababu Naidu, on Thursday approved investment proposals from 50 companies involving ₹30,515 crore, with the projects expected to generate 29,677 employment opportunities across the state.
Addressing the meeting, Naidu said Andhra Pradesh was witnessing rapid industrial growth and stressed that investments should translate into jobs, entrepreneurship and economic opportunities for all sections of society.
The Chief Minister directed officials to strengthen support for startups through the Ratan Tata Innovation Hub and facilitate venture capital funding to create a robust innovation ecosystem.
He also asked the Education Department to align academic curricula with emerging technologies, including robotics and advanced manufacturing.
Emphasising project implementation, Naidu said only serious investors should be encouraged and instructed officials to closely monitor approved projects to ensure timely grounding and execution.
The Chief Minister called for Andhra Pradesh to emerge as a leader in ethanol production, stating that increased ethanol blending would benefit farmers and reduce dependence on imported fuels.
He also stressed the need for planning industrial growth in line with future power requirements, noting a 17 per cent increase in electricity demand this year.
Highlighting the state’s clean energy ambitions, Naidu said Andhra Pradesh should accelerate development of solar, wind, pumped storage and battery energy storage projects to achieve its 160 GW green energy vision.
He also advocated promoting lithium-ion battery manufacturing and electric vehicle charging technologies.
The Chief Minister underscored the importance of building a semiconductor ecosystem, promoting data centres and developing the Amaravati Quantum Valley with advanced research and technology infrastructure.
Referring to Andhra Pradesh’s industrial strengths, he said Sri City, Tirupati and Anantapur had the potential to emerge as major automobile manufacturing hubs, while the Bengaluru-Puttaparthi region could develop into a significant defence and aerospace corridor.
He directed officials to expedite the proposed fifth-generation fighter jet manufacturing and testing facility at Puttaparthi.
Naidu also called for accelerated development of tourism infrastructure, including hotels, beach resorts and spiritual tourism destinations.
He suggested preparing a master plan for Suryalanka Beach and promoting tourism projects in Gandikota, Polavaram, Horsley Hills, Kurnool and Anantapur.
The Chief Minister further stressed the need to position Andhra Pradesh as a national hub for rare earth minerals and electronics manufacturing while encouraging affordable housing development around major industrial clusters.
Minister for IT and Human Resources Development Nara Lokesh said incentives and concessions should be linked to project execution and operationalisation.
He also announced plans to establish a Centre of Excellence for Rare Earth Minerals research at Andhra University and highlighted the potential for building a strong quantum technology ecosystem in the state.
TNT KM
