Andhra govt clears 9.36 lakh crore investments in 22 months

The Telugu Desam Party‑led coalition government in Andhra Pradesh has approved investment proposals worth Rs 9.36 lakh crore since assuming office in June 2024, Minister for Information and Public Relations and Housing Kolusu Parthasarathy said on Friday.

Briefing media persons after the Cabinet meeting chaired by Chief Minister Nara Chandrababu Naidu, the minister said the proposals cleared so far are expected to generate employment for 9.62 lakh people.

The Cabinet approved 16 projects in information technology, electronics, and communications, involving an investment of Rs 17,459 crore. These projects are projected to create jobs for 36,411 people.

Among the major decisions was approval for data centre projects in Visakhapatnam and Anakapalli districts.

The Cabinet also cleared Credence Realty’s proposal to establish an IT Park in Visakhapatnam. Recognised under the ‘IT Campus Developer’ category of the Andhra Pradesh IT and Global Capability Centre Policy (4.0) 2024‑29, the project will receive applicable incentives.

Recommended by the State Investment Promotion Board, the project entails an investment of Rs 386.88 crore and is expected to create 6,500 jobs.

Approval was also granted for the allocation of two acres of land to Feuji Software Solutions Private Limited for an IT/ITeS campus in Visakhapatnam under the Andhra Pradesh Land Incentive for Tech Hub Policy (4.0) 2024‑29.

The project involves an investment of ₹425 crore and has the potential to generate 2,500 jobs.

The Cabinet cleared the allocation of 0.4 acres of land to Sritech Data Limited for a Cable Landing Station in Visakhapatnam, to be built with an investment of Rs 1,800 crore.

Parthasarathy said approval was also given to PG Technoplast Private Limited for manufacturing facilities for refrigerators, washing machines, and air conditioners in Phase‑1, along with expansion of PCB vertical capacity, setting up a research and development centre, and a Component Vendor Park in Phase‑2.

The project entails an investment of Rs 1,305 crore and is expected to create 2,910 jobs.