South Africa tour of India 2019
AP SIPB Clears ₹85,083 Crore Investments; Naidu Urges Competitive Push for Growth
In a landmark meeting chaired by Andhra Pradesh Chief Minister N Chandrababu Naidu at the State Secretariat, the State Investment Promotion Board (SIPB) approved investment proposals worth ₹85,083 crore. This marked the first SIPB meeting under the TDP-led NDA government and showcased the state’s renewed focus on industrial and energy sector growth.
Major Investments and Job Creation
Seven companies under the Industries and Commerce Department pledged investments of ₹73,181 crore, promising 27,891 jobs. The energy sector saw three proposals totaling ₹11,902 crore, set to generate 6,075 jobs.
ArcelorMittal Nippon Steel India Pvt Ltd: An integrated steel plant with a capital port at Bangarayyapeta. Initial investment of ₹61,780 crore will create 21,000 jobs, with the first phase targeted for completion by 2029.
LG Electronics India Pvt Limited: Committed ₹5,001 crore, creating 1,495 jobs.
Kalyani Strategic Systems Limited: ₹1,430 crore investment, offering 565 jobs.
Phillips Carbon Black Limited: ₹3,798 crore investment, generating 200 jobs.
Azad India Mobility Limited: ₹1,046 crore investment to provide 2,381 jobs.
In the energy sector:
Astha Green Energy Ventures India Pvt Ltd: ₹8,240 crore, with 4,000 jobs.
Greenko AP01 IREP Infra Pvt Ltd: ₹2,000 crore, creating 1,725 jobs.
Naidu’s Vision for Investment and Land Acquisition
The Chief Minister urged officials to aggressively compete with other states to attract investments, emphasizing respect and support for investors. "Investments will create employment opportunities for the youth, and every proposal must be tracked until it materializes," Naidu stressed.
He criticized the previous government for policies that deterred investments and caused firms to exit Andhra Pradesh. Officials revealed that while the YSRC administration paid ₹1,961 crore in incentives, the earlier TDP government had provided ₹3,883 crore.
Land Pooling: A Transparent Approach
For projects like the ArcelorMittal steel plant, Naidu proposed a three-pronged approach to land acquisition:
Land pooling with transparency akin to the Amaravati model.
Training and employment opportunities for voluntary land donors.
Providing attractive compensation packages for land acquisition.
Deputy CM Pawan Kalyan supported Naidu’s stance, stressing that while investments are critical, the welfare of land donors is equally important.
Commitment to Employment Goals
The meeting included discussions led by Sub-Committee Chairman N Lokesh on creating 20 lakh employment opportunities. Several ministers and senior officials also participated, reflecting the state’s collective push toward economic revival.
This decisive meeting underscores Andhra Pradesh’s commitment to fostering growth, generating employment, and ensuring a balanced approach to development.
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