AP govt approves ₹19,391 Cr investment proposals

The Andhra Pradesh government has taken a major step to reshape the state’s industrial landscape. The 14th State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu on Tuesday, gave the green light to investment proposals worth ₹19,391 crore from 14 companies across sectors such as tourism, industry, food processing, and energy.

The approved projects are expected to generate employment for around 12,000 youth in the state. The energy sector received the largest share of investment, with Tata Power proposing a ₹6,675-crore project in Nellore district and Shirdi Sai Electricals planning a ₹5,571-crore project in Kadapa district. Websol Renewable is also set to invest ₹3,538 crore, while other companies received approval for their proposals.

During the meeting, the Chief Minister launched the AP IT Infrastructure Portal, which provides comprehensive information about the state’s IT facilities.

Tourism development was highlighted as a key priority. CM directed officials to prepare a comprehensive plan to boost tourism, including developing Suryalanka Beach in Bapatla district as a safe and well-branded tourist destination with a 15-km clean beachfront. He also proposed turning the small islands near Sullurupeta into Maldives-style tourist hubs.

In the food processing sector, the CM urged officials to explore new units in the Tirupati region to increase farmers’ incomes and encouraged discussions with major companies to facilitate investment.

Addressing the state’s finances and electricity sector, the CM said reforms have already reduced the cost of power by 13 paise per unit, saving consumers an estimated ₹4,500 crore that the government will bear. He set a target to reduce electricity purchase costs to ₹3.70 per unit by 2029. Chandrababu Naidu instructed ministers and officials to take personal responsibility for removing obstacles for investors, ensuring a smooth business environment in the state.