Andhra Pradesh SIPB Approves 28 Industrial Proposals Worth ₹22,177.84 Crore Across Energy, Manufacturing, Food Processing, IT and Tourism
The 21st meeting of the Andhra Pradesh State Investment Promotion Board (SIPB), chaired by Chief Minister N Chandrababu Naidu, cleared 28 proposals worth ₹22,177.84 crore. The projects span energy, IT and communications, food processing, manufacturing and tourism, and are expected to create 19,739 jobs.
Ten of the approved projects are in IT and futuristic technology, with a combined investment of ₹526.25 crore. They are expected to create 8,896 jobs, with activity centred in Visakhapatnam, Amaravati and Kadapa.
Muthoot Fincorp Limited will invest ₹100 crore in an integrated AI and technology training hub in Visakhapatnam. Deloitte will invest ₹44 crore in an operations centre with 2,500 seats. TriQuanta Labs Pvt Ltd will invest ₹35 crore in a Quantum Innovation Centre alongside a hybrid quantum computing hardware manufacturing unit, creating 175 jobs. The board also extended the incentive timeline under the AP Electronics Policy 2021-24 for AIL Dixon Technologies Pvt Ltd's ₹70 crore manufacturing unit in Kadapa, which is expected to create 300 jobs.
The Chief Minister directed officials to build a port infrastructure ecosystem along the coastline, integrating ports with logistics, shipbuilding, warehouses, manufacturing and ancillary industries. He also asked for Kopparthy, Tirupati and Lepakshi to be developed as electronics hubs for semiconductor, chip manufacturing and robotics investments. He called for large-scale hotel development and asked officials to invite international brands to invest in the state.
Each approved project has been given a six-month timeline for work to begin. Across 21 SIPB meetings so far, 387 projects have been approved, involving potential investments of ₹14.05 lakh crore.
