Vijayawada: The State Investment Promotion Board (SIPB) on Wednesday cleared 27 investment proposals across IT, renewable energy, tourism, food processing, infrastructure, and industrial sectors. Once realised, the proposed projects will involve investments worth Rs 29,021 crore and are expected to generate 22,407 jobs.
Chairing the SIPB meeting, chief minister
N Chandrababu Naidu directed officials to ensure all projects are grounded with a ‘speed of doing business' approach. Stating that he would review the progress on investments on a monthly basis, the CM said adhering to timelines is mandatory and instructed officials to take back the land allotted to firms if they failed to start operations as agreed in the lease. Naidu empowered the ministers' committee to cancel any allotment if required.
The chief minister observed that upcoming projects by companies such as Google, ArcelorMittal, and BPCL should not face any administrative hurdles. He instructed officials to engage NRIs for new investments and said the govt is prepared to extend special incentives for semiconductor units. He said additional incentives for companies setting up projects on their own land would also be examined.
On tourism, the chief minister said Visakhapatnam, Amaravati, and Tirupati would be developed as regional hubs. Clusters at Suryalanka, Polavaram, Pulicat, Gandikota, Srisailam, Madanapalle, and Horsley Hills would be planned. He said an iconic ‘Bharat Mandapam' would come up in Visakhapatnam as a major convention centre. He asked officials to create Shilparamams in all districts and facilitate hotel and convention infrastructure in locations, including Kakinada and Eluru.
Officials were asked to promote sports and creative ecosystems, encourage health tourism, and expedite the Culinary Institute proposed in Tirupati. He said value addition in the aquaculture sector would help improve export prospects, along with dairy, poultry, and meat processing.
The chief minister asked officials to specify commissioning dates and link employment data with the skills portal to reflect real-time vacancies. He instructed them to bring a warehousing policy and expand EV charging stations in Visakhapatnam, Vijayawada, and Tirupati. The state has so far held 15 SIPB meetings, clearing investments of ₹9,03,726 crore with employment potential for 8,58,082 people. Ministers Nara Lokesh, Anagani Sathya Prasad, TG Bharat, P Narayana, K Atchannaidu, and senior officials attended the meeting.
Srikanth Aluri is the assistant editor at Times of India, Vijayaw...
Read MoreSrikanth Aluri is the assistant editor at Times of India, Vijayawada. He covers Chief Minister’s office, Telugu Desam Party, diaspora and the high court. In his 15 years of career as on ground journalist, Srikanth worked in Hyderabad, New Delhi and Vijayawada. He wrote extensively on AP politics, civic and legal issues.
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