Andhra Pradesh State Investment Promotion Board (SIPB) on Thursday approved 15 projects involving a total of ₹44,776 crore investment that can generate 19,580 jobs. With this approval for new projects, the total value of investments approved by the board so far after the formation of the new NDA government in July this year crossed ₹3 lakh crore mark. 

The Chief Minister, N Chandrababu Naidu, who chaired the SIPB meeting in Amaravati, directed the officials to clear all the necessary permissions and take steps to see to it that these projects are grounded at the earliest possible. Already permissions have been granted for projects by ArcelorMittal which is going to set up its units with an investment of ₹1.36 lakh crore, NTPC, HPCL and the BPCL, which is investing ₹96,000 crore for setting up its unit in the State. All these projects will be grounded in a couple of months.

The SIPB at its first meeting approved the investments worth ₹83,987 crore while at the second meeting a sum of ₹1,82,162 crore was approved. At the third meeting held on Thursday, the board gave its consent for another ₹44,776 crore. The 15 projects that the SIPB approved on Thursday are mainly with regard to renewable energy and food processing sectors.

In the past seven months, the SIPB approved for projects worth a total of ₹3,10,925 crore to generate 3,12,576 jobs. Naidu also directed the officials to regularly monitor the developments and take measures to ensure materialisation of the proposed investments at the earliest.

The Chief Minister said that a State-level convener be appointed to closely monitor the progress from the grassrootS to the State level to oversee the granting of necessary permissions and to deal with the problems at the ground level, according to a release. 

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