The 11th meeting of the State Investment Promotion Board (SIPB) was held in Amaravati, chaired by Chief Minister Chandrababu Naidu. Several key investment proposals were reviewed and approved during the meeting.
IT Minister Nara Lokesh, Minister Narayana, and other cabinet members attended the meeting along with SIPB officials. The board cleared projects worth Rs 1,14,000 crore, giving the green signal to 30 major proposals across IT, energy, tourism, aerospace, and food processing sectors.
Officials estimated that these projects will generate around 67,000 new jobs. The highlight of the meeting was the approval of Raiden InfoTech Data Center, a Rs 87,520 crore investment the largest FDI project in India’s history, according to officials.
Ministers and officials congratulated IT Minister Lokesh for securing the record-breaking investment. Chief Minister Chandrababu Naidu said the government’s efforts to attract global investors are yielding results within just 15 months.
The meeting also discussed appointing special officers to oversee the implementation of large-scale projects.
So far, SIPB has approved a total of Rs 7.07 lakh crore worth of investments across previous meetings, with the potential to create 6.02 lakh jobs in Andhra Pradesh.
