A.P. SIPB approves 27 projects with investments of ₹29,021 crore

The 15th State Investment Promotion Board (SIPB) meeting held under the chairmanship of Chief Minister N. Chandrababu Naidu at the Secretariat on Wednesday approved 27 projects with an investment of ₹29,021 crore, taking the total investments approved so far to ₹9,03,726 crore.

Mr. Naidu made it clear that the Speed of Doing Business policy should be the guiding principle in all matters related to industrial projects. He emphasised that mega projects by reputed companies such as Google, ArcelorMittal and BPCL were in the pipeline and instructed officials to ensure that they faced no hurdles from the government.   Approvals should be cancelled if any company fails to start work, he told the Ministers’ Committee.

Mr. Naidu said the government was ready to offer special incentives to attract more semiconductor projects and suggested that a proposal to give additional incentives for projects being set up on private lands should be examined. He said tourism should be developed in Visakhapatnam, Amaravati, and Tirupati regions in a cluster-based approach. 

Mr. Naidu noted that value addition in aquaculture would help revive exports to the U.S.A. and boost dairy, poultry, livestock, and meat exports.

The officials must introduce a warehousing policy and prepare an action plan for setting up electric vehicle charging stations on a large-scale, he said.

Ministers Nara Lokesh, Anagani Satya Prasad, T.G. Bharat, P. Narayana, K. Atchannaidu, Gottipati Ravi Kumar, B.C. Janardhan Reddy, Kandula Durgesh and Vasamsetti Subhash, Chief Secretary K. Vijayanand and other senior officials were present.