Andhra’s ₹29,000 Crore Leap: Naidu Clears 27 New Projects

The 15th meeting of the State Investment Promotion Board (SIPB), chaired by N. Chandrababu Naidu, approved 27 new project proposals with a total proposed investment of ₹29,021 crore.

Since its inception, the SIPB has cleared projects worth ₹9,03,726 crore, which are expected to generate employment for approximately 8.58 lakh people across the state.

Addressing the meeting, the Chief Minister called on officials to adopt the “Speed of Doing Business” policy as a guiding principle in handling all industrial project-related matters. He highlighted that several mega investments from global companies, including Google, ArcelorMittal, and Bharat Petroleum Corporation Limited, are currently in the pipeline.

Naidu also directed the formation of a ministers’ committee to oversee land allotments, stressing that approvals should be revoked if companies fail to commence work within stipulated timelines, according to an official release.

News by Rahul Yelligetti.