AP Cabinet Clears Investment Proposals of Rs.34,000 Crore

Vijayawada: The Andhra Pradesh Cabinet on Tuesday cleared a slew of major policy, industrial, infrastructure and welfare initiatives aimed at accelerating economic growth, attracting investments and generating employment across the state.

The Cabinet cleared investment proposals worth nearly Rs.34,000 crore finalised by the Investment Promotion Board, which are expected to generate about 35,000 jobs.

Chaired by Chief Minister N. Chandrababu Naidu, the cabinet meeting approved 87 agenda items covering industrial investments, data centres, tourism projects, renewable energy ventures and employee welfare measures.

Briefing the media, information minister Kolusu Parthasarathy said the government was keen on creating integrated industrial ecosystems rather than standalone manufacturing units.

Giving top priority to Amaravati, the Cabinet gave approval for capital infrastructure under which a Rs.426.46 crore package for Undavalli Trunk Infrastructure and an allotment of Rs.130.38 crore for the AP judicial academy. It okayed a proposal of APCRDA to create 95 temporary posts for land pooling works.

A major highlight of the Cabinet meet was the approval of large-scale data centre investments that will position Amaravati and Visakhapatnam as emerging global digital infrastructure hubs. CtrlS Data Centers Ltd will establish a 100mw facility in Anakapalli district with an investment of Rs.2,788 crore, while Sify Infinit Spaces Ltd will expand its proposed 500mw data centre project in Visakhapatnam with a total investment of Rs.15,266 crore.

In a significant relief to government employees, the cabinet approved a one-time option for eligible Contributory Pension Scheme employees to switch to the Old Pension Scheme. The decision will benefit 10,715 employees and involve a projected expenditure of Rs.34,850.83 crore up to year 2067.

The Cabinet also approved incentives and land allocations for several major industrial projects, including rare-earth magnet manufacturing units by Proterial India and NAN MagneTech, AP JSW Steel’s beneficiation plant in Prakasam district, Premier Energies’ solar manufacturing expansion in Tirupati, Royal Enfield’s motorcycle plant, and defence-sector projects by Ananth Technologies, Spacefields and Icom Tele Ltd.

In the IT sector, approvals were granted for PCB manufacturing projects by Zetfab India and Smile Electronics, new facilities by Infinx Technology Solutions and Eclat Health Solutions, and the launch of the Amaravati Quantum Valley initiative involving 11 advanced technology firms.

The Cabinet also approved a 50 per cent capacity enhancement of the Yaganti Pumped Storage Project in Nandyal district from 1,000mw to 1,500mw, along with several solar, wind and compressed biogas projects under the state’s clean energy policy.

Tourism received a major boost with clearances for luxury hospitality projects, including Accor, Crowne Plaza, Holiday Inn, Marriott, Club Mahindra, Oberoi and Daiwik hotel ventures in Amaravati, Visakhapatnam, Tirupati and Kurnool.

Among other decisions, the Cabinet approved revised port operational limits for Machilipatnam and Ramayapatnam ports, a sustainable aviation fuel facility at Kakinada, extension of the retirement age to 62 years for employees of state PSUs and autonomous bodies with retrospective effect from January 1, 2022, establishment of technology-enabled registration service centres, expansion of BC welfare residential schools, scholarship support for SC and ST students in deemed universities, and infrastructure projects in Amaravati backed by World Bank, ADB and HUDCO funding.

The Cabinet also ratified irrigation modernisation works worth Rs.1,478 crore under the Srisailam canal system and approved several land allocations for renewable energy, industrial parks and public infrastructure projects across the state.