Andhra Pradesh SIPB clears 27 investment proposals worth Rs 29,000 cr

Amaravati: The Andhra Pradesh Investment Promh otion Board meeting has cleared 27 projects with an investment of over Rs 29,000 crore.

"The 15th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu...approved 27 projects with an investment of Rs 29,021 crore," said an official press release late on Wednesday.

Emphasising a shift in governance, the CM underscored that the 'Speed of Doing Business' policy must remain the guiding principle in all matters related to industrial projects.


In 15 SIPB meetings, Andhra Pradesh has approved investments worth over Rs 9 lakh crore, which are expected to create over 8.5 lakh jobs, said the release.

Naidu emphasised that mega projects by reputed companies such as Google, ArcelorMittal and BPCL are in the pipeline and instructed officials to ensure there are no hurdles from the government side.

A ministers' committee should monitor the allotment of land to companies and 'cancel approvals if any company fails to start work', said the CM.

He instructed officials to invite NRIs to invest in the state, saying the government is ready to offer special incentives to attract more semiconductor projects and suggested examining additional incentives for projects set up on privately-owned land.

Further, the Chief Minister said tourism should be developed across three regions-Visakhapatnam, Amaravati, and Tirupati.

Naidu proposed forming clusters such as Suryalanka, Polavaram, Pulicat, Gandikota, Srisailam, Madanapalle and Horsley Hills with dedicated development plans, said the release.

Establishing shopping malls, hotels, and similar facilities in these clusters would attract more tourists, he added.

According to the TDP supremo, a Bharat Mandapam is coming up in Visakhapatnam, which should be developed as an iconic structure and the best convention centre in the country.

More hotels and convention centres are needed across the state, including in regions like Kakinada and Eluru with a target of 50,000 hotel rooms.

He said the state should also host national-level mega events.

Likewise, the CM envisioned establishing ecosystems such as sports cities and creative cities, stressing the need to significantly boost health tourism.

He suggested setting up a culinary institute in Tirupati to promote the food sector in the southern state and encouraging hospitality-related deemed universities.

Further, Naidu observed that value addition in aquaculture would help revive exports to the United States and also boost dairy, poultry, livestock, and meat exports, among other initiatives.