Andhra Investment Promotion Board approves investments worth Rs 1.21 lakh crore
Amaravati: Andhra Pradesh’s State Investment Promotion Board (SIPB) on Thursday approved investment proposals worth Rs 1.21 lakh crore.
The SIPB meeting chaired by Chief Minister N. Chandrababu Naidu approved investment proposals of Rs 1,21,656 crore in sectors like industries, power and tourism. These projects will create 80,104 employment opportunities.
This was the fourth meeting of the SIPB since the TDP-led NDA came to power in the state in June last year.
The SIPB has so far given its consent for the projects worth Rs 4,32,584 crore which will provide 3,92,680 jobs.
Chief Minister Chandrababu Naidu directed the officials to initiate steps to ensure that industries that have signed investment agreements with the state are grounded immediately.
The Chief Minister also ordered the officials to closely monitor the progress of the projects that have already been approved and entered into agreements with the state.
He felt the need to set up a tracker for closely monitoring the progress of these projects.
The Chief Minister also reviewed the progress of the projects approved during the earlier SIPB meetings.
He directed the officials to set up 175 Micro, Small, and Medium Enterprise (MSME) parks in the state with one park each in every Assembly constituency.
As part of this, 26 MSME parks should be set up immediately with one park each for every district, he said.
The Chief Minister also said that the already proposed five Ratan Tata Innovation Centres should be set up in five areas within a month.
The officials should closely follow-up with the respective companies till the investments are made, the Chief Minister said, and stressed the need for giving the necessary approvals to the companies at a fast pace with which agreements have already been entered into, besides monitoring closely till they are grounded.
Chief Minister Chandrababu Naidu felt that the Ministers and the officials should work hard in this aspect and only then the progress and the results can be achieved.