Andhra Pradesh SIPB approves 30 investment projects worth Rs 53,922 crore

The 10th State Investment Promotion Board (SIPB) meeting of Andhra Pradesh on Thursday approved 30 projects with a combined investment of Rs 53,922 crore and the potential to create 83,437 jobs.

Approved projects include HFCL to the tune of Rs 1,197 crore, Apollo Tyres with an investment of Rs 1,100 crore, Dhirubhai Ambani Green Tech Park at Rs 1,843 crore and Serentika Renewables of India Rs 2,000 crore.

"The Tenth SIPB meeting led by Chief Minister N Chandrababu Naidu today approved investments to the tune of Rs 53,922 crore for 30 projects aimed at providing employment to 83,437 youth," said a press release.


The HFCL investment is set to come up at Madakasira, Apollo Tyres (Chittoor district), Dhirubhai Ambani Green Tech park (Krishnapatnam) and Serentika Renewables of India (Anantapur).

The Chief Minister emphasised his commitment to personally monitor the implementation and progress of projects at the ground level.

He asked officials to focus on the success of state's 'ease of doing business' policy.

Naidu also mentioned that he is striving to secure a Mahindra electric vehicle plant for the state, said the press release.

According to the CM, there is a significant opportunity to develop the food processing industry in Andhra Pradesh.

He tasked officials with holding talks with food processing companies to set up their units throughout the state.

Development of horticulture in both Chittoor and Rayalaseema and mango processing companies in Chittoor district are benefiting farmers in a big way, said Naidu.

The CM also stressed the need for developing MSME parks as business centres, and called for establishing one in every assembly constituency.

Naidu suggested linking MSMEs to Ratan Tata Innovation Hubs (RTIHs) to improve the quality of products, the press release added.