Amaravati, Sep 18 (PTI) The Andhra Pradesh SIPB, chaired by Chief Minister N Chandrababu Naidu, on Friday approved 28 industrial proposals entailing an investment of Rs 22,177.84 crore.
The projects approved at the 21st SIPB meeting are expected to create employment opportunities for nearly 20,000 people, according to a press release.
“The State Investment Promotion Board meeting chaired by … Naidu … approved 28 industrial proposals with an investment of Rs 22,177.84 crore, creating employment opportunities for 19,739 youth,” it said.
The approved projects cover the sectors of energy, IT and communications, food processing, manufacturing and tourism. During the meeting, Naidu directed officials to create a comprehensive port infrastructure ecosystem along the state’s coastline.
He stressed the need to develop Andhra Pradesh as a leading hardware manufacturing destination and directed officials to attract major investments in advanced sectors such as semiconductors, chip manufacturing and robotics.
Naidu called for infrastructure and facilities to be developed at electronics hubs such as Kopparthy, Tirupati and Lepakshi to attract large-scale investments.
According to Naidu, the state should go beyond electronics manufacturing and build a complete ecosystem encompassing research, design and manufacturing.
The CM directed officials to facilitate the rapid establishment of research and manufacturing institutions in advanced fields such as quantum technology and high-performance computing. Likewise, he said a comprehensive plan should be prepared to establish cluster industries around drone and space cities and link them with allied industries.
Naidu called for the commercial utilisation of land available around all ports in the state and asked officials to prepare an integrated plan covering logistics, shipbuilding, warehouses, manufacturing and ancillary industries around the ports.
Fishing harbours should be developed, he said, calling for shipbuilding activities to be expanded in the state not only for cargo vessels but also to meet defence and tourism requirements.
The CM called for an integrated ecosystem connecting ports, shipbuilding, logistics and industries and directed officials to focus extensively on the logistics sector.
He said Andhra Pradesh should be developed as a logistics hub by integrating ports with railways, roads, air cargo and inland waterways to create a comprehensive logistics ecosystem.
According to Naidu, Tirupati district, supported by Sri City, has secured the 10th position in the country in terms of district-wise exports.
He said East Godavari district is currently ranked 12th and called for efforts to bring it into the country’s top five.
IT Minister Nara Lokesh said discussions were underway with Taiwan to develop an electronics and hardware manufacturing ecosystem in Andhra Pradesh.
The SIPB further approved 10 IT and quantum technology projects entailing an investment of over Rs 500 crore.
These projects are expected to create nearly 9,000 jobs, according to the press release.
“The approved projects entail a total investment of Rs 526.25 crore and are projected to create 8,896 high-quality jobs across the state,” it said.
The approved projects include a Rs 100 crore investment by Muthoot Fincorp Limited to establish an integrated hub for an AI and technology training centre in Visakhapatnam.
The SIPB approved a Rs 44 crore investment by Deloitte to set up a state-of-the-art operations centre with a capacity of 2,500 seats.
It approved a Rs 167 crore investment by Quantum Codon Pvt Ltd in Amaravati to establish an integrated quantum AI-driven biotechnology innovation campus for drug discovery research. The project is expected to create 126 jobs.
“The state government remains firmly committed to transforming Andhra Pradesh into a powerhouse of cutting-edge technology. By bringing world-class investments in quantum computing, AI and IT services to Amaravati, Visakhapatnam and Kadapa, the administration is empowering local youth with futuristic employment opportunities,” the press release said.
According to the state government, Visakhapatnam has gained momentum with global firms receiving approval to establish large-scale operations and training centres in the port city.
“Major global brands like Deloitte and Muthoot Fincorp are expanding their footprints in Visakhapatnam with high-capacity seating operations,” the press release said.
The release said Amaravati is set to emerge as a national hub for quantum computing, photonics and AI-driven biotechnology. PTI STH SSK
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