At the eighth State-Level Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu, the Andhra Pradesh government approved 22 new projects with a cumulative investment of Rs 39,473 crore. These projects are anticipated to generate employment for 30,899 people across the state. Vizag, in particular, secured approvals for three projects amounting to Rs 619 crore in total investment. These projects are expected to create 4,320 jobs in the city. The approved proposals include:
ITC Hotels Ltd: Rs 328 crore, expected to create 1,100 jobs
Phenom People Pvt Ltd: Rs 205 crore, expected to create 2,500 jobs
Lansum Ltd: Rs 86 crore, expected to create 720 jobs
In addition to these, Lulu Shopping Malls International Ltd received a green light for an investment of Rs 1,222 crore across Visakhapatnam and Vijayawada, expected to generate 1,500 jobs.
Apart from the approvals for Vizag, the newly approved State-wide projects span a wide range of sectors, including IT, food processing, tourism, renewable energy, commerce, and energy.
During the meeting, Chief Minister Chandrababu Naidu highlighted the importance of building a symbiotic ecosystem around these industrial projects to ensure shared progress among industries, local communities, and associated institutions. He stated that such an integrated approach would “not only accelerate industrial growth but also uplift the surrounding regions through job creation and institutional linkages.”
The Chief Minister instructed officials to focus on developing strong supporting infrastructure, such as roads, ports, airports, and utility services, around these industrial zones. Emphasising inclusive development, he said, “Farmers and locals should not feel they are losing out because of the projects; instead, they should benefit from the development happening. Create inclusive development plans to make farmers stakeholders in the development wherever possible.” He added, “People will part with land only when they are convinced of tangible benefits,” stressing that companies must follow project deadlines.
Reiterating the importance of timely execution, Chandrababu Naidu urged officials and ministers to closely monitor the progress of each project and resolve any hindrances swiftly. He also directed departments to prepare government land for public-private partnership (PPP) initiatives in tourism and to ensure that service sector linkages are incorporated into the broader industrial development framework.
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