SIPB clears Rs 899 crore for Varun Hospitality in Visakhapatnam

In a significant boost to Andhra Pradesh’s investment landscape, the 6th State Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu on 15 May 2025, approved 19 major projects with a cumulative investment of Rs 33,720 crore. Among these, Varun Hospitality received the green light for an ambitious Rs 899 crore project in Visakhapatnam.

The company is transforming the former The Gateway Hotel on Beach Road into a world-class mixed-use development. Inspired by Singapore’s Marina Bay Sands, the upcoming complex will feature a five-star deluxe hotel, luxury serviced apartments, upscale retail outlets, and premium office spaces, setting a new benchmark for urban development in the coastal city.

Apart from the Varun Hospitality project in Visakhapatnam, other investments sanctioned by the SIPB include:

• Deccan Fine Chemicals (India) Pvt Ltd in Anakapalli district – Rs 1,560 crore
• Bharat Electronics Ltd in Sri Sathya Sai district – Rs 1,400 crore
• PUR Energy Pvt Ltd in Kurnool district – Rs 1,286 crore
• Blue Jet Healthcare Ltd in Anakapalli district – Rs 2,300 crore
• Jupiter Renewables Pvt Ltd in Anakapalli district – Rs 2,700 crore

Additional approvals included investments in sectors such as renewable energy, pharmaceuticals, electronics, hospitality, and manufacturing. Highlights include:

• Ramabhadra Industries Pvt Ltd in West Godavari district – Rs 228 crore
• Mohan Spintex in Krishna district – Rs 482 crore
• ATC Tyres AP Pvt Ltd in Anakapalli district – Rs 1,779 crore
• Wingtech Mobile Communications in Tirupati district – Rs 1,061 crore
• ALEAP Kuppam – Rs 5 crore
• Nithin Sai Constructions Pvt Ltd in Eluru district – Rs 150 crore
• Deshraj Solar Energy Pvt Ltd in Anantapur and Sri Sathya Sai districts – Rs 2,920 crore
• Amplus Energy Solutions Pvt Ltd in Kadapa district – Rs 3,941 crore
• Bondada Engineering Ltd in Anantapur and Sri Sathya Sai districts – Rs 9,000 crore
• Bengal Ultimate Resorts LLP in Tirupati district – Rs 150 crore
• Sravanti Hotels & Resorts Pvt Ltd in Tirupati district – Rs 327 crore
• Daikin Air Conditioning India Pvt Ltd in Sri City – Rs 2,475 crore
• Sensorum Photonics India Pvt Ltd in Kurnool district – Rs 1,057 crore

During the session, CM Chandrababu Naidu emphasized the importance of real-time monitoring of these ventures to ensure timely execution. He proposed the development of a digital dashboard to track project progress, field-level implementation, and job creation linked to each investment.

Read also: SIPB approves Rs 50 cr investment proposal in Visakhapatnam

Stay tuned to Yo! Vizag website and Instagram for more city and news updates.