Synopsis
On March 13, the Andhra Pradesh State Investment Promotion Board approved investment proposals amounting to Rs 1.21 lakh crore, aimed at boosting sectors like industries, power, and tourism while creating thousands of jobs.Key Takeaways
- SIPB approved Rs 1.21 lakh crore in investments
- 80,104 job opportunities will be created
- 175 MSME parks to be established across the state
- Projects to be monitored closely for progress
- Five Ratan Tata Innovation Centres to be set up
Amaravati, March 13 (NationPress) The State Investment Promotion Board (SIPB) of Andhra Pradesh convened on Thursday and sanctioned investment proposals totaling Rs 1.21 lakh crore.
The SIPB meeting, presided over by Chief Minister N. Chandrababu Naidu, endorsed investment plans amounting to Rs 1,21,656 crore across various sectors including industries, power, and tourism. These initiatives are expected to generate 80,104 job opportunities.
This marks the fourth assembly of the SIPB since the TDP-led NDA took office in the state in June of the previous year.
To date, the SIPB has approved projects totaling Rs 4,32,584 crore, which will create 3,92,680 jobs.
Chief Minister Naidu instructed officials to take immediate measures to ensure industries that have signed investment agreements commence operations without delay.
He also urged officials to meticulously track the advancement of previously approved projects that have already established agreements with the state.
Recognizing the need for a progress monitoring system, the Chief Minister proposed establishing a tracker for overseeing these projects.
Furthermore, he assessed the status of projects sanctioned during earlier SIPB meetings.
He directed officials to establish 175 Micro, Small, and Medium Enterprise (MSME) parks across the state, with one park designated for each Assembly constituency.
As part of this initiative, 26 MSME parks should be established immediately, with one in each district, he emphasized.
The Chief Minister also requested the swift establishment of five proposed Ratan Tata Innovation Centres within a month.
Officials are to maintain close communication with the respective companies until the investments are finalized, and it was stressed that necessary approvals for companies with existing agreements should be expedited, along with ongoing monitoring until operations are initiated.
Chief Minister Naidu expressed that Ministers and officials must exert considerable effort in this area to realize progress and achieve tangible results.
