AP SIPB approves Rs 1.01 Lakh Cr projects, 85,000 jobs on Horizon

Andhra Pradesh’s 12th State Investment Promotion Board (SIPB) meeting, chaired by CM N Chandrababu Naidu on Friday, approved investments exceeding Rs 1 lakh crore across 26 industries, with potential to generate 85,870 jobs.

An official press release stated that the SIPB sanctioned projects worth Rs 1,01,899 crore. With these approvals, total investments in the state have now crossed Rs 8 lakh crore, providing employment to over 7 lakh people.

CM Naidu directed officials to ensure timely implementation of these industrial projects. He emphasised cluster-based development, proposing 15 industrial zones (IZs) across AP. Officials were instructed to utilise Central Government (CG) incentives effectively to promote industries.

Highlighting the need for a land bank to facilitate industrialisation, Naidu said, “If anyone offers land to companies, officials should encourage and support them to pave the way for industrial growth.”

On urban and regional development, the CM proposed developing Visakhapatnam as a mega city by merging areas up to Vizianagaram and Anakapalli. He also stressed the development of Amaravati and Tirupati to strengthen tourism and IT sectors.

CM Naidu urged officials to ensure the success of the forthcoming CII Partnership Summit in Visakhapatnam on Nov 14-15, which will showcase Andhra Pradesh’s investment potential to national and global stakeholders.

The 12th SIPB meeting underscores AP’s focus on attracting large-scale investments, creating jobs, promoting industrial clusters, and developing urban centres to strengthen economic growth and investment opportunities across the state.