The Andhra Pradesh government is determined to transform the state into an investment hub. Chief Minister Chandra Babu Naidu and IT Minister Lokesh are working towards this goal. As part of this effort, the State Investment Promotion Board approved investments worth Rs. 85,000 crores during its first meeting at the AP Secretariat.
This significant investment will support the establishment of ten new industries, creating job opportunities for approximately 34,000 youth.
ArcelorMittal Nippon India Pvt Ltd plans to set up a steel plant in Nakkapally for Rs. 61,780 crores, which will generate 21,000 jobs. Kalyani Strategy Systems Limited has also been permitted to invest Rs. 1,430 crores, which will create 565 jobs. LG Electronics Private Limited will invest Rs. 5,001 crores, creating 1,495 jobs.
The details of the investments are below:
| Name of Industry | Investment | Jobs To Be Created |
| ArcelorMittal Nippon India | 61,780 crores | 21000 |
| Astha Green Energy Ventures | 8,240 crores | 4000 |
| LG Electronics Pvt | 5001 crores of Rs | 1,495 |
| Kalyani Strategy Systems Ltd | 1430 crores | 565 |
| Green Solar IREP Ltd | 2000 crores | 1725 |
| ECOREN ENERGY INDIA LIMITED | Rs.1662 crores | 350 |
| Azad India Mobility Ltd | 1,046 crores | 2,381 |
| Phillips Carbon Black Ltd | 798 crores | 200 |
| TAFE PARISHIA INDIA LIMITED | 76 crores | 250 |
| Dallas Technology Center LLP | 50 crores | 2000 |
Minister Nara Lokesh expressed that within five months of the TDP government coming to power, strategic efforts have begun to meet the promises made during the Yuvagalam Padayatra. He further highlighted that prominent companies like ArcelorMittal, Reliance Renewable Energy, TCS, and Serentica Global are showing interest in investing in Andhra Pradesh.
This post was last modified on 20 November 2024 10:10 am
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