Amaravati, Jun 18 (PTI) Andhra Pradesh SIPB on Thursday approved investment proposals worth over Rs 30,000 crore, which are expected to generate nearly 30,000 jobs across the state.
Headed by Chief Minister N Chandrababu Naidu, the State Investment Promotion Board approved proposals from 50 companies, said a press release.
“The 18th SIPB meeting led by CM Naidu approved investment proposals from 50 companies involving a total investment of Rs 30,515 crore, expected to generate 29,677 employment opportunities across the state,” it said.
Major proposals comprise a Rs 6,000 crore project by NTPC Renewable Energy, followed by the CtrlS data centre (Rs 2,788 crore), Proterial India (Rs 2,250 crore), Ananth Technologies (Rs 1,000 crore) and several others.
According to the CM, Andhra is witnessing rapid industrial growth, and he stressed that the gains from this development should translate into employment, entrepreneurship and economic opportunities for “all sections of the society.” Naidu called for stronger support to startups and effective utilisation of the state’s innovation ecosystem through the Ratan Tata Innovation Hub (RTIH).
He directed officials to facilitate venture capital investments for startups and create a robust entrepreneurial ecosystem, among other directives.
Underscoring the importance of ethanol production, the CM said Andhra Pradesh should take the lead in this sector.
Increased ethanol blending would benefit farmers and reduce the country’s dependence on imported fuels, he said, calling for discussions with oil companies and greater encouragement for biofuel industries.
Naidu underlined the importance of planning industrial projects in line with future power requirements.
Observing a 17 per cent increase in electricity demand this year, he directed officials to prepare comprehensive projections for industrial, commercial and IT-sector power consumption.
He identified solar, wind, pumped storage and Battery Energy Storage Systems (BESS) as the future of energy and called for accelerated development of projects that support the state’s 160 GW green energy vision, said the press release.
Special attention should be given to lithium-ion battery manufacturing and fast-charging technologies for electric vehicles, he said.
The CM highlighted the need to develop a strong semiconductor ecosystem and encourage data centres while ensuring sufficient power infrastructure.
He instructed officials to establish a micro-irrigation equipment park to encourage manufacturers of irrigation equipment, making such technologies more affordable for farmers and supporting future growth in horticulture and floriculture.
On the emerging AI and quantum technology ecosystem in Amaravati, he said project approvals and land allotments should be simplified and made transparent.
Naidu also directed officials to expedite the establishment of the proposed Fifth Generation Fighter Jet Manufacturing and Testing Facility at Puttaparthi and ensure regular coordination with the Central Government.
He said the Bengaluru–Puttaparthi region has the potential to emerge as a major defence and aerospace corridor and proposed the development of an airstrip between Tadipatri and Anantapur.
Naidu insisted that Andhra Pradesh should emerge as a “national hub” for rare earth minerals, with a complete end-to-end ecosystem and specialised educational and research institutions.
Referring to the Jonnagiri Gold Mine project, he observed that the area has significant historical and economic importance and could emerge as a major gold production centre.
IT Minister Nara Lokesh, in addition, announced plans to establish a Centre of Excellence for Rare Earth Minerals research at Andhra University, the release added. PTI STH SSK
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