Andhra Pradesh SIPB approves 30 investments worth Rs 1.14 lakh crore

Amaravati, Oct 8 (PTI) The 11th State Investment Promotion Board meeting of Andhra Pradesh headed by Chief Minister N Chandrababu Naidu on Wednesday approved investments worth Rs 1.14 lakh crore, officials said.

These 30 investments span IT, fuel, tourism, aerospace, food processing and other sectors, and are expected to fetch 67,000 jobs.

"The 11th State Investment Promotion Board (SIPB) meeting approved investments worth Rs 1.14 lakh crore, spanning IT, fuel, tourism, aerospace, food processing and others," said a press release.

The Raiden Info Tech Data Center's Rs 87,520 crore investment is among those approved and this is "highest ever FDI in the country", the press release noted.

Commenting on these investment approvals, CM noted that efforts put forth over the past 15 months to attract investors are paying off.

During the meeting, a decision was taken to assign special officers for large projects, who will shoulder the responsibility of grounding those projects.

In 11 SIPB meetings, the southern state has approved investments worth over Rs 7 lakh crore, which can generate 6.2 lakh jobs, the press release added. PTI STH ADB