The AP Investment Promotion Board (SIPB) has approved the establishment of 4 companies in the state with an investment of Rs 20,000 crore. 50,000 people will get employment opportunities through the 4 companies. The Sifi Data Center will be established with a cost of Rs 16,466 crore. Chief Minister Chandrababu Naidu has directed that there should be a Visakhapatnam master plan to suit future investments and needs.
He has ordered that the plans should be implemented without any shortage in infrastructure. Minister Nara Lokesh has revealed that the image of Visakhapatnam will increase with the arrival of prestigious companies. The 9th State Investment Promotion Board meeting was held at the Secretariat under the chairmanship of Chief Minister Chandrababu Naidu.
Approval was given to 4 companies that have come to invest in the state for new investments. Prestigious companies such as Sifi, Satwa, BVM and ANSR have come forward to invest Rs 20,216 crore. Sifi Infinite Spaces Limited will invest Rs. 1,466 crore in Visakhapatnam in the first phase. This will provide employment to 200 people. In the second phase, an investment of Rs. 15,000 crore will be invested and 400 people will get job opportunities.
Saatva Developers Private Limited will invest Rs. 1,500 crore in Visakhapatnam-Madhurawada and 25,000 people will get jobs. BVM Energy and Residency Private Limited will invest Rs. 1,250 crore in Visakhapatnam-Yendada. This will provide employment and employment opportunities to 15,000 people.
ANSR Global Corporation Private Limited has come forward to invest Rs. 1,000 crore in Visakhapatnam-Madhurawada. This will provide 10,000 job opportunities.
In the SIPB meetings held so far under the coalition government, 113 projects have been approved. Out of these, 46 projects are in the industrial sector, 41 in the energy sector, 11 in the tourism sector, 11 in IT, and 4 in food processing industries. These projects are bringing in a total investment worth Rs. 5,94,454 crore. 5,56,568 people will get job and employment opportunities.
