Andhra Pradesh SIPB clears investment proposals worth ₹22,178 crore

Andhra Pradesh government, during its 21st State Investment Promotion Board (SIPB) meeting chaired by Chief Minister N. Chandrababu Naidu at the Secretariat on Friday, approved 28 industrial proposals with total investments of nearly ₹22,178 crore. These projects have the potential to create employment opportunities for 19,739 youths.

The investment proposals covered energy, IT and communications, food processing, manufacturing and tourism sectors. The SIPB has approved 387 projects so far, with a potential investment of ₹14.05 lakh crore and employment opportunities for 10.79 lakh people.

Mr. Naidu directed the officials to create a comprehensive port infrastructure ecosystem along the State’s coastline. He stressed the need to develop Andhra Pradesh as a leading hardware manufacturing destination.