AP Attracts ₹9.26 Lakh Crore Investments, 260 Projects Approved Since June 2024

Andhra Pradesh is scripting a new chapter in industrial growth, with massive investments flowing into the state within a short period of the coalition government led by Chief Minister N. Chandrababu Naidu . Since June 2024, the State Investment Promotion Board has approved as many as 260 major projects worth ₹9.26 lakh crore . Notably, nearly 80 per cent of these projects have already commenced groundwork , Information and Public Relations Minister K. Parthasarathi said.

Addressing the media after the Cabinet meeting chaired by the Chief Minister at the Secretariat on Friday, the Minister stated that the government is placing special emphasis on industrial development , which is expected to generate employment for lakhs of youth.

The Cabinet has taken a key decision to transform Visakhapatnam into a world-class data centre hub. A massive $15 billion (approximately ₹1.25 lakh crore) AI data centre project by Google has received clearance. The Cabinet also approved the execution of the sale deed for this project in favour of Adani Infra India and Raiden Infotech , which is expected to accelerate construction.

Additionally, the IT sector in Visakhapatnam is set for further expansion. Credence Realty will establish an IT park with an investment of ₹387 crore , creating 6,500 jobs , while Fuji Software will build its campus with an outlay of ₹425 crore . Sree Tech Data Limited will invest ₹1,800 crore to set up a cable landing station, strengthening data connectivity.

The government is prioritising high-tech industries. In Sri Sathya Sai district , RRP Electronics Limited will set up semiconductor assembly, testing, and fabrication units with an investment of ₹10,240 crore across 60 acres , generating 3,000 direct jobs .

In the manufacturing sector, PG Technoplast will establish a unit for producing refrigerators, air conditioners, and washing machines with an investment of ₹1,305 crore, creating 2,000 jobs. In Kuppam (Chittoor district), a speciality chemicals firm will set up a lithium battery material unit with an investment of ₹2,500 crore.

Through the iSprout Business Centre , IT and data centre infrastructure will be developed with an investment of ₹627 crore , expected to generate 12,500 jobs . In the capital Amaravati , the proposed ‘Quantum Valley’ will host a research and manufacturing facility by Quantum AI Global , with an investment of ₹108 crore .

Minister Parthasarathi emphasised that these investments are set to transform Andhra Pradesh’s economic landscape , with the government’s primary goal being to provide better employment opportunities to youth within the state.