Andhra clears ₹28,546 cr investments; Adani Group to spend ₹18,910 cr

IT company Cognizant will invest almost ₹1,583 crore to set up a campus in Visakhapatnam

The projects were approved at the seventh meeting of the State-Level Investment Promotion Board (SIPB) on Thursday. These include a ₹8,010 crore project in Kadapa by Adani Renewable Energy and investments worth ₹10,900 crore in various districts by Adani Hydro Energy Four and Adani Hydro Energy One. Adani’s investments are expected to create 10,500 jobs.

 

IT company Cognizant Technology Solutions will invest almost Rs 1,582.98 crore to set up a campus in Visakhapatnam, where the state government will give it land for a nominal rate of just 99 paisa. The project is expected to create 8,000 jobs over the years. Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority.

 

Other major projects include Reliance Consumer Products investing Rs 1,622 crore in Orvakal; Chinta Green Energy ₹2,323 crore in Kadapa and Raymond ₹1,201 crore at various places.

 

 

The 19 projects are expected to create employment for 30,270 people. In seven meetings, SIPB has approved investments worth ₹5,34,684 crore and expected to generate jobs for 4,73,969 people.

 

Chief Minister N Chandrababu Naidu on Thursday announced that additional incentives would be provided to industries and projects that invest in the state’s backward regions. He emphasised that establishing industries would spur development in those regions, create employment for locals, and thereby distribute prosperity across the state.

 

Naidu said Andhra “locals” should receive the majority of jobs in the upcoming industrial projects in the state. Therefore, skill development for youth should be treated as a core policy objective. He reiterated that his coalition government is committed to balanced development across all regions of Andhra Pradesh. A plan is being drawn up to ensure that incoming investments are distributed evenly across the state.

 

The Chief Minister made it clear that companies allotted land must establish their units within the stipulated timeline. He instructed officials to engage in discussions with representatives of such companies. He also mentioned that MSME parks are being established in every Assembly constituency across the state, and these should be utilised to promote entrepreneurs under the ‘One Family – One Entrepreneur’ initiative. 

 

He directed that details of all industries, projects, investments, and jobs created should be made available on an online portal. Furthermore, he suggested mapping these industries based on clusters.

 

Naidu said that tourism, IT, and food processing industries should become key drivers of development. He noted that the state currently has immense potential in these sectors and called for promoting entrepreneurship accordingly. He proposed developing boat tourism projects near Papikondalu along with the Polavaram Project. He also instructed officials to explore operating luxury boats and cruise ships in Visakhapatnam and other coastal areas of the state, in collaboration with interested companies.

 

The Chief Minister emphasised that various companies that have signed agreements in the hospitality sector should expedite their construction work. He also directed that necessary infrastructure be developed near industrial projects. Going forward, he suggested that at least two SIPB meetings should be conducted every month, with a target of holding at least 25 meetings annually.