Andhra SIPB's nod for Rs 1.22 lakh crore investments for several projects

Hyderabad: Andhra Pradesh State Investment Promotion Board (SIPB) on Thursday approved the proposals for an investment of Rs 1,21,656 crore worth of 10 projects in sectors like industries, power and tourism. These projects will create 80,104 employment opportunities. Chief Minister, N Chandrababu Naidu, directed the officials to initiate steps to ensure that industries that have signed investment agreements with the State are grounded immediately.

Chairing the fourth State Investment Promotion Board (SIPB) meeting held at the State Secretariat in Amaravati on Thursday, 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 for setting 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.

The Chief Minister directed the officials to set up 175 Micro, Small and Medium Enterprise (MSME) parks in the State with one park each in every Assembly segment. 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 the respective companies till the investments are made, the Chief Minister said and stressed the need for giving the necessary approvals to the companies on a fast pace with which agreements have already been entered into besides monitoring closely till they are grounded. Mr Chandrababu felt that the Ministers and the officials should work hard in this aspect and only then the progress and the results can be achieved.

Till now the SIPB in all the four meetings held till now has given its consent for the projects worth Rs 4,32,584 cr which will provide 3,92,680 jobs.