Andhra govt approves over Rs 1.21 lakh cr in investments from 10 companies

 The Andhra Pradesh State Investment Promotion Board (SIPB), chaired by Chief Minister N Chandrababu Naidu, approved investments worth over Rs 1.21 lakh crore from 10 companies on Thursday.

The approved investments have the potential to create 80,104 jobs, including Rs 25,000 crore from Satyavedu Reserve Infracity Pvt Ltd (Sri City), Rs 58,469 crore from Indosol Solar Pvt Ltd, and Rs 22,000 crore from AP NGEL Harith Amrit Ltd, among others.

"At the fourth SIPB meeting held at the Secretariat, the Chief Minister reviewed new investment proposals in the industries, power, and tourism sectors. The SIPB approved Rs 1,21,659 crore in investments from 10 companies, which will create 80,104 jobs," a press release stated.

Naidu directed officials to closely monitor these investments until they materialise and urged ministers and officials to work proactively to ensure industries commence operations without delays.

Additionally, the CM instructed officials to establish MSME parks in all 175 constituencies, starting with one park in each district.

He also directed the immediate establishment of five Ratan Tata Innovation Centres within a month, the release added.