Amaravati: The Andhra Pradesh State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu, held its 11th meeting on Wednesday in the Secretariat, approving 30 investment proposals totaling ₹1.14 lakh crore. These projects, covering sectors such as information technology, renewable energy, aerospace, tourism, and food processing, are expected to generate 67,000 direct jobs.
“The 11th State Investment Promotion Board (SIPB) meeting approved investments worth Rs 1.14 lakh crore, spanning IT, fuel, tourism, aerospace, food processing and others,” an official press release stated.
A key proposal approved was a ₹87,520 crore data center project in Visakhapatnam by Raiden Infotech, a Google-associated technology firm specializing in cloud computing and cyber-security solutions. The press release noted that this investment is the “highest ever FDI in the country.”
This initiative aims to strengthen Andhra Pradesh’s digital infrastructure and create high-skill employment opportunities. Additional approvals included investments in tourism infrastructure to enhance the state’s coastal and cultural attractions, aerospace manufacturing facilities in Sri City, and food processing units to support agricultural value chains and rural development.
The Chief Minister commented that “the investment efforts have yielded positive results in just 15 months,” adding that the SIPB meetings have so far approved investments of Rs 7.07 lakh crore. The meeting focused on ensuring timely project implementation, with directives for real-time monitoring through a dedicated online portal.
Incentives were also outlined for projects in less-developed districts to promote balanced regional growth. Industries Minister T.G. Bharat highlighted the potential for significant economic impact, particularly in sustainable energy and workforce development.
