Amaravati, April 7 The 16th State Investment Promotion Board meeting, held under the chairmanship of Chief Minister N Chandrababu Naidu here on Tuesday, approved 31 projects involving a total investment of over Rs 39,436 crore.
The Chief Minister directed officials to fully utilize the state's potential in solar power generation, particularly in Rayalaseema, and align the transmission infrastructure with future requirements.
"The 16th State Investment Promotion Board (SIPB) meeting, chaired by Naidu, approved 31 projects with an investment of Rs 39,436.84 crore," said an official press release.
The SIPB also gave its approval for the establishment of three companies in the Amaravati Quantum Valley, strengthening the state's push in advanced technology sectors.
Naidu further instructed officials to expedite the work on Amaravati Quantum Towers and ensure that tourism projects commence operations within the stipulated timeline without exception.
These projects across sectors, including industries, energy, IT, and tourism, are expected to generate direct employment for 1,11,278 people, the release stated.
Naidu emphasized that Andhra Pradesh should emerge as a major hub for solar energy and instructed officials to prepare transmission systems to enable power supply to other states.
He noted that while states like Rajasthan generate solar power, optimal utilization remains a challenge, and stressed the need to avoid such gaps by building robust systems.
The Chief Minister also directed special focus on electronics manufacturing, suggesting that component industries be set up in Sri City, Kopparthi, and Anantapur.
He called for attracting Global Capability Centres (GCCs) and said the state should position itself as a leading destination for such investments.
Officials were instructed to promote projects that utilize agricultural, horticultural, and aquaculture waste, ensuring environmentally safe byproduct generation, and seek support from the central government.
The Chief Minister stressed that all industrial projects must adhere to modern safety standards and directed the preparation of standard operating procedures in line with disaster management norms.
He also called for strict compliance with safety protocols, particularly in sectors such as firecracker manufacturing and dairy units, with no compromise on prescribed standards.
Naidu said approved projects should be implemented within the stipulated timelines, and their progress would be reviewed in every SIPB meeting.
With the latest approvals, a total of 264 projects have been cleared in the last 22 months, attracting investments worth Rs 9.36 lakh crore and generating employment for about 9.60 lakh people, the release stated.
Investment proposals approved through 538 MoUs during the partnership summit in Visakhapatnam are expected to bring in Rs 11.38 lakh crore and generate 13.95 lakh jobs.
Overall, a total of 802 projects are expected to attract investments worth Rs 20.74 lakh crore and generate employment for 23.55 lakh people, the press release added.