VIJAYAWADA: The 16th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N Chandrababu Naidu at the Secretariat on Tuesday, cleared 31 projects worth Rs 39,436 crore.
The proposed investments in industry, energy, IT, tourism and food processing sectors are expected to generate employment for 1,11,278 people.
Naidu directed officials to fully utilise the State’s vast potential in solar power generation with a special focus on developing Rayalaseema region as a major renewable energy hub.
He emphasised the need for attracting large-scale investments in the solar energy sector. The officials should plan and develop robust transmission infrastructure to supply power to other States in the future, he said.
Naidu stressed the need for developing solar parks in Rayalaseema region and attracting investments accordingly. Transmission lines should be strengthened to connect with both State and national grids for interstate power supply.
The State aims to become a key hub for consumer electronics manufacturing with emphasis on setting up units in Sri City, Kopparthy and Anantapur. Greater emphasis should be laid on establishing Global Capability Centers (GCCs) and strengthening the IT ecosystem, Naidu said.
The SIPB granted approval for three companies in Amaravati Quantum Valley, besides encouraging projects utilising agriculture, horticulture and aquaculture waste to produce value-added byproducts such as ethanol.
He called for modern safety protocols across sectors like pharma, steel, green energy and battery energy storage systems. A standard operating procedure (SOP) aligned with disaster management norms should be developed. The approved projects should be grounded quickly within stipulated timelines and MoUs signed during investor summits should also be implemented speedily, he said.
AP set to turn green energy leader: Naidu
The SIPB decided to expand food processing capacity in line with rising horticulture output and to provide enhanced marketing support to crops like oilpalm and cocoa.
The CM reiterated that Andhra Pradesh is determined to become a leader in renewable energy and electronics manufacturing, and achieve sustainable industrial growth.
Ministers Nara Lokesh, K Atchannaidu, P Narayana, K Durgesh, A Satya Prasad, TG Bharat, Gottipati Ravi Kumar, BC Janardhan Reddy and Vasamsetty Subhash, Chief Secretary G Sai Prasad and other officials were present.