Amaravati, April 11 – The Telugu Desam Party-led coalition government in Andhra Pradesh has approved investment proposals worth ₹9.36 lakh crore since assuming office in June 2024, Information and Public Relations and Housing Minister Kolusu Parthasarathy said on Friday.
Speaking to the media after the Cabinet meeting chaired by Chief Minister Nara Chandrababu Naidu, the minister said that the proposals cleared so far are expected to generate employment for 9.62 lakh people.
The Cabinet approved 16 projects in information technology, electronics, and communications, involving an investment of ₹17,459 crore. These projects are projected to create jobs for 36,411 people.
Among the major decisions was approval for data centre projects in the Visakhapatnam and Anakapalli districts.
The Cabinet also cleared Credence Realty’s proposal to establish an IT Park in Visakhapatnam. This project, recognized under the ‘IT Campus Developer’ category of the Andhra Pradesh IT and Global Capability Centre Policy (4.0) 2024-29, will receive applicable incentives.
Recommended by the State Investment Promotion Board, the project entails an investment of ₹386.88 crore and is expected to create 6,500 jobs.
Approval was also granted for the allocation of two acres of land to Feuji Software Solutions Private Limited for an IT/ITeS campus in Visakhapatnam under the Andhra Pradesh Land Incentive for Tech Hub Policy (4.0) 2024-29.
The project involves an investment of ₹425 crore and has the potential to generate 2,500 jobs.
The Cabinet cleared the allocation of 0.4 acres of land to Sritech Data Limited for a Cable Landing Station in Visakhapatnam, to be built with an investment of ₹1,800 crore.
Parthasarathy also announced approval for PG Technoplast Private Limited for manufacturing facilities for refrigerators, washing machines, and air conditioners in Phase 1, along with expanding the PCB vertical capacity, setting up a research and development center, and a Component Vendor Park in Phase 2.
The project involves an investment of ₹1,305 crore and is expected to create 2,910 jobs.