Latest news with #SIPB
Hans India
24-06-2025
- Business
- Hans India
AP cabinet to meet today, to approve major investments and development projects
The Andhra Pradesh Cabinet is scheduled to convene at 11am on Tuesday, where it is expected to approve investments totalling Rs 28,546 crore for 19 projects that were greenlit during the recent 7th State Investment Promotion Board (SIPB) meeting. A significant item on the agenda is the discussion surrounding the establishment of Cognizant in Visakhapatnam. In addition, the Cabinet will review plans to invite tenders for the development of infrastructure across 1,450 acres within the Amaravati Government Complex, estimated to cost Rs 1,052 crore. Another critical proposal involves inviting tenders for the connection of the Seed Access Road to National Highway 16, estimated at Rs 682 crore. Moreover, the Cabinet is likely to explore land allotments to various organisations and is anticipated to address the acquisition of an additional 44,000 acres through land pooling in the second phase of the Amaravati project. This discussion coincides with the coalition government's completion of one year in power. Also on the table will be the Aerospace and Defence Policy, with recommendations for the establishment of two new urban development organisations in the state as part of a broader reorganisation initiative. Approval for these measures is likely to be secured during the forthcoming Cabinet meeting. Additionally, the Cabinet will deliberate on the operational details of the Annadata Sukhibhava scheme. Following the meeting, it is expected that Chief Minister Chandrababu Naidu will engage with ministers regarding the latest political developments.
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Business Standard
23-06-2025
- Business
- Business Standard
Raymond to invest ₹1,200 cr in Andhra; garments, auto, aerospace in focus
Amid rising industrial interest in Andhra Pradesh, Raymond Group plans to invest ₹1,200 crore in the state, focusing on garments, auto components, and aerospace manufacturing, Moneycontrol reported. The proposed investment aligns with Raymond's broader diversification strategy, which extends beyond textiles into engineering, defence and high-precision sectors. The company entered the aerospace and defence space in November 2023 through the ₹682 crore acquisition of a 59.25 per cent stake in Maini Precision Products. The announcement comes as part of the state government's proactive drive to attract investment. Andhra Pradesh is offering capital subsidies of up to 30 per cent and 100 per cent electricity duty exemption for ten years to incentivise industrial activity. Chief Minister N Chandrababu Naidu is also focused on developing the Andhra side of the Bengaluru border as an aerospace corridor, state officials told Moneycontrol. Raymond has yet to issue an official statement regarding the proposed investment. Andhra's SIPB clears ₹28,546 crore in new projects Raymond's investment forms part of 19 industrial proposals recently approved by the Andhra Pradesh government. At the seventh meeting of the State-Level Investment Promotion Board (SIPB), projects worth ₹28,546 crore were cleared. Among the major investors is the Adani Group, with commitments totalling ₹18,910 crore. These include a ₹8,010 crore renewable energy project in Kadapa by Adani Renewable Energy Fifty One, and investments worth ₹10,900 crore by Adani Hydro Energy Four and Adani Hydro Energy One across various districts. Together, the Adani projects are expected to create around 10,500 jobs. Other significant proposals include Cognizant Technology Solutions India's ₹1,583 crore centre in Visakhapatnam, projected to create 8,000 jobs in three phases; a ₹1,622 crore facility by Reliance Consumer Products at Orvakal; and a ₹2,323 crore green energy project by Chinta Green Energy in Kadapa. High job potential across sectors Collectively, the 19 approved projects are expected to generate employment for 30,270 individuals across the state. Since its inception, the SIPB has approved ₹5,34,684 crore worth of investments over seven meetings, with a projected job creation potential of 4,73,969 roles—signalling Andhra's strategic push to become a national manufacturing and innovation hub.
India Today
20-06-2025
- Business
- India Today
Chandrababu Naidu clears Rs 28,546 crore projects, to create 30,000 jobs in state
In a boost to industrial development, the Andhra Pradesh government, under the leadership of Chief Minister N Chandrababu Naidu, approved investment proposals worth Rs 28,546 crore at the 7th meeting of the State Investment Promotion Board (SIPB). The 19 approved projects are expected to generate over 30,000 jobs across the this round of approvals, the cumulative investments sanctioned under the Naidu-led government have now reached Rs 5.34 lakh crore, with an estimated 4.73 lakh job opportunities created across all seven SIPB meetings held so The cleared proposals span key sectors including information technology, renewable energy, manufacturing, and hospitality. Notable names among the investors include Cognizant, Adani Energy, Raymond, and Reliance, among others, signaling strong industry confidence in Andhra Pradesh's growth the major investments, Cognizant is set to establish a state-of-the-art IT campus in Visakhapatnam with a Rs 1,582 crore investment that will create 8,000 jobs. Raymond's Rs 1,202 crore proposal will lead to 6,571 jobs, following earlier discussions between IT Minister Nara Lokesh and Raymond Chairman Gautam Hari Singhania. The Adani Group has committed over Rs 18,900 crore in green and hydropower projects across Kadapa and other districts, while Reliance Consumer Products will invest Rs 1,622 crore in Orvakal, generating 1,200 projects cleared include ventures in logistics, agro-processing, precision manufacturing, and luxury hospitality, with investments spread across regions like Anantapur, Chittoor, Tirupati, Amaravati, East Godavari, and Sri Sathya Sai district. advertisementChairing the meeting, Chief Minister Naidu emphasised the importance of balanced regional development and youth empowerment, stating that locals should be the primary beneficiaries of the jobs being stressed that skill development must be treated as a core policy objective, aligning with the government's broader vision for inclusive economic growth. The swift pace of investment approvals is seen as a result of targeted outreach efforts led by IT Minister Nara Lokesh, who has been actively engaging with industry leaders to position Andhra Pradesh as a top destination for by Leju Joy. R IN THIS STORY#Andhra Pradesh
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Business Standard
20-06-2025
- Business
- Business Standard
Andhra clears ₹28,546 cr investments; Adani Group to spend ₹18,910 cr
The projects were approved at the seventh meeting of the State-Level Investment Promotion Board (SIPB) on Thursday. These include a ₹8,010 crore project in Kadapa by Adani Renewable Energy and investments worth ₹10,900 crore in various districts by Adani Hydro Energy Four and Adani Hydro Energy One. Adani's investments are expected to create 10,500 jobs. IT company Cognizant Technology Solutions will invest almost Rs 1,582.98 crore to set up a campus in Visakhapatnam, where the state government will give it land for a nominal rate of just 99 paisa. The project is expected to create 8,000 jobs over the years. Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority. Naidu said Andhra 'locals' should receive the majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective. He reiterated that his coalition government is committed to balanced development across all regions of Andhra Pradesh. A plan is being drawn up to ensure that incoming investments are distributed evenly across the state. The Chief Minister made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilised to promote entrepreneurs under the 'One Family – One Entrepreneur' initiative. The Chief Minister emphasised that various companies that have signed agreements in the hospitality sector should expedite their construction work. He also directed that necessary infrastructure be developed near industrial projects. Going forward, he suggested that at least two SIPB meetings should be conducted every month, with a target of holding at least 25 meetings annually.
New Indian Express
20-06-2025
- Business
- New Indian Express
SIPB gives green signal to 19 projects worth Rs 28,546 crore
VIJAYAWADA: The seventh State-Level Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu at the State Secretariat on Thursday, approved investment proposals for 19 projects worth Rs 28,546 crore. These investments are expected to generate employment opportunities for 30,270 people. So far, across the seven SIPB meetings, investment proposals worth Rs 5,34,684 crore have been approved, creating job prospects for 4,73,969 individuals. The board also reviewed proposals for additional investments and modifications from BPCL & KSSL, LT Electronics, and Krishnapatnam Power Corporation. Speaking on the occasion, the Chief Minister announced that additional incentives would be extended to industries and projects investing in the state's backward regions. He emphasized that setting up industries in these areas would promote development and provide employment to the local population. The Chief Minister underlined that local residents should be given priority in employment for upcoming industrial projects. He stated that youth skill development must be a key policy focus. He reiterated the coalition government's commitment to ensuring balanced development across all regions of Andhra Pradesh and mentioned that a plan is being prepared to ensure equitable distribution of investments throughout the state.
