SIPB Approves ₹30,515 Crore Investments, Including ₹6,000 Crore Renewable Project

₹6,000 Cr. Renewable Energy Project Among ₹30,515 Cr. Proposals Cleared by SIPB

The State Investment Promotion Board (SIPB) has approved investment proposals totaling ₹30,515 crore from 50 companies across various sectors. These projects are expected to create approximately 29,677 jobs in Andhra Pradesh.

Key approvals include a ₹6,000 crore renewable energy project by NTPC Renewable Energy in Anantapur district, a ₹3,936 crore solar manufacturing initiative by Premier Energies in Tirupati district, a ₹2,788 crore data centre project by CtrlS Datacenters in Anakapalli district, and a ₹2,250 crore advanced materials investment by Proterial India.

Chairing the SIPB’s 18th meeting at the State Secretariat in Amaravati on Thursday, Chief Minister N. Chandrababu Naidu emphasized the importance of ensuring that the benefits of industrial growth reach poor and middle-class families. He stressed that industrialisation should create opportunities not just for large corporations but also for ordinary citizens and aspiring entrepreneurs.

Mr. Naidu called for fostering an inclusive industrial ecosystem that generates employment while enabling common people to establish enterprises and contribute to economic growth. He also urged officials to encourage startups, particularly those incubated through the Real-Time Innovation Hub (RTIH), by facilitating access to venture capital investments.

Highlighting the need to align education with industrial demands, the Chief Minister directed the Education Department to update academic curricula to include advanced technologies such as robotics, artificial intelligence, and automation. He further stressed the importance of identifying future industrial trends and preparing a skilled workforce to meet emerging demands. Andhra Pradesh, he asserted, would not accommodate non-serious investors.

Mr. Naidu instructed officials to closely monitor approved projects and ensure companies initiate work promptly after receiving clearances. Minister for Information Technology and Human Resources Development Nara Lokesh announced efforts to align ITIs and polytechnic institutions with local industrial needs and revealed plans to establish a Centre of Excellence for rare earth mineral research at Andhra University.

Drawing on insights from his recent visit to Russia, Mr. Lokesh suggested that Andhra Pradesh could adopt a specialised quantum technology ecosystem similar to the one he observed there. The meeting was attended by Ministers K. Atchannaidu, Anagani Satya Prasad, T.G. Bharath, Kandula Durgesh, Payyavula Keshav, B.C. Janardhan Reddy, and senior officials from various departments.