From Our Correspondent
Amaravati: In a major boost to Andhra Pradesh’s investment landscape, the State Investment Promotion Board (SIPB) chaired by Chief Minister N. Chandrababu Naidu has cleared investment proposals worth ₹1.14 lakh crore across key sectors including IT, energy, tourism, aerospace, and food processing.
Over 30 projects received approval at the 11th SIPB meeting held at the Secretariat, which is expected to generate nearly 67,000 jobs. The highlight of the session was the approval of a record foreign direct investment proposal by Raiden Infotech Pvt Ltd — a ₹87,520-crore data centre project, billed as the single-largest FDI-backed venture in the state’s history.
Chief Minister Naidu described the SIPB approvals as a milestone in Andhra Pradesh’s industrial resurgence and credited the efforts of the IT and Industries Minister Nara Lokesh for securing unprecedented levels of foreign interest. Ministers and officials congratulated Lokesh for the achievement, noting that the state’s sustained efforts over the past 15 months are now bearing fruit.
The meeting, which lasted over three hours, reviewed each project in detail and resolved to appoint special officers to expedite project execution. These officers will be responsible for ensuring rapid grounding and addressing procedural bottlenecks.
With the latest approvals, the cumulative investment sanctioned through SIPB so far stands at ₹7.07 lakh crore, with the potential to create over 6.2 lakh jobs across sectors.