Amaravati, Oct 8 (PTI) The 11th State Investment Promotion Board meeting of Andhra Pradesh headed by Chief Minister N Chandrababu Naidu on Wednesday approved 30 investments worth Rs 1.14 lakh crore, officials said.
These investments span IT, fuel, tourism, aerospace, food processing and other sectors, and are expected to fetch 67,000 jobs, they added.
“The 11th State Investment Promotion Board (SIPB) meeting approved investments worth Rs 1.14 lakh crore, spanning IT, fuel, tourism, aerospace, food processing and others,” said an official press release.
The Raiden Infotech India Ltd’s Rs 87,520 crore investment is among those approved and this is “highest ever FDI in the country”, the press release noted.
Raiden Infotech India Ltd is a subsidiary of tech giant Google and it will establish “India’s largest data centre in Visakhapatnam”, developing three campuses across Tarluvada, Adavivaram, and Rambilli, it said.
Commenting on these investment approvals, CM noted that efforts put forth over the past 15 months to attract investors are paying off.
Naidu noted that the project would lay the foundation for a strong technology ecosystem and accelerate technological development in the region.
IT Minister Nara Lokesh said the data centre will position Visakhapatnam as a “Data Valley” and will aim to create job opportunities for five lakh people.
Naidu emphasised the need to establish a special economic corridor to drive industrial growth in the Rayalaseema region.
He announced that the Visakhapatnam Economic Region will include Srikakulam and East Godavari districts while the Amaravati Economic Region will cover West Godavari and Prakasam districts, and a third economic region will span Nellore and the Rayalaseema districts.
He directed officials to prepare a comprehensive master plan to enhance infrastructure in line with rapid industrial growth, including better connectivity to industrial zones.
The CM also instructed the Industries Department to fast-track work on the Jindal Steel Plant and ensure its completion by 2028.
During the meeting, a decision was taken to assign special officers for large projects, who will shoulder the responsibility of grounding those projects.
In 11 SIPB meetings, the southern state has approved investments worth over Rs 7 lakh crore, which can generate 6.2 lakh jobs, the press release added. PTI STH ADB
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