Andhra CM Naidu Approves Nine Projects Worth Rs 1.82 Lakh Crore

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu has approved nine projects, which are set to bring in investments totalling Rs 1.82 lakh crore and are expected to generate 2.63 lakh jobs on Monday. Addressing the State Investment Promotion Board (SIPB) meeting, the Chief Minister directed officials to expedite the allotment of land and other necessary facilities for companies interested in investing in the southern state. "Attract more companies with the incentives and concessions provided by the state government," Chandrababu Naidu told officials, according to an official press release.

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Nine projects approved, totaling Rs 1.82 lakh crore investment.

Meanwhile, officials informed the CM that BPCL will set up a refinery at Ramayyapatnam in Nellore district at an investment of Rs 96,862 crore, while IT giant TCS will set up an office at Millennium Towers in Vizag at an outlay of Rs 80 crore. Balaji Action Buildwell Pvt Ltd, a manufacturing, electronics, and appliances company, is set to invest Rs 1,174 crore at Rambilli in Anakapalli district, and Azad Mobility India Ltd is expected to invest Rs 1,046 crore at Gudipalli in Sri Satyasai District.

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During the meeting, officials informed Naidu about five new companies expressing interest in investing Rs 83,000 crore in various projects, driven by the clean energy policy implemented by the southern state. Further, Tata Power Renewable Energy Ltd is expected to set up a 400 MW solar power project in Kurnool district at an investment of Rs 2,000 crore, among others.