Andhra Pradesh SIPB Approves Rs 44,777 Cr Investment

Thursday, February 27, 2025

The Andhra Pradesh State Investment Promotion Board, SIPB, has approved investments amounting to Rs 44,777 crores for furthering 15 upcoming projects, thereby generating 19,580 new job opportunities in the state. This is the third meeting of the SIPB held under Chief Minister Nara Chandrababu Naidu after the formation of the alliance government.

Among the approved ventures, some of the prominent power sector projects are Navayuga’s power initiative in Alluri Seetharama araju district, Megha Engineering’s pumped storage project, Anantapur Renewable Pvt Ltd’s wind energy project, and Tata Power’s solar energy project.

CM Chandrababu Naidu stated that the government is committed to further improving the “ease of doing business” and “speed of doing business” to attract more investments. He said, “Investor interest has grown manifold since the alliance came to power. In the last seven months, SIPB has cleared investments worth over Rs 3,10,925 crore, which have generated more than 3,12,576 jobs.”

The Chief Minister has also ordered government officials to see that the project is completed with all efficiency and in a timely manner without causing any obstacles to its development. This indicates Andhra Pradesh’s increasing attraction as an investment destination and sustained effort towards economic growth and employment.

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