Amaravati: The 14th State Investment Promotion Board (SIPB) meeting, chaired by Chief Minister N Chandrababu Naidu, approved investments worth ₹19,391 crore. The board cleared 14 major projects, which are expected to generate employment for 11,753 youth across Andhra Pradesh.
CM Praises Officials, Sets 2026 Investment Target
Addressing officials, the Chief Minister praised their teamwork in attracting large investments during 2025. He urged them to maintain the same spirit in 2026. He also asked officials to focus on faster decision-making and timely implementation of projects.
Power Sector Reforms Attract New Investors
Highlighting reforms in the power sector, CM Naidu said the government absorbed ₹4,500 crore in true-up charges without burdening consumers. He also announced a 13 paise per unit reduction in power tariffs. The government aims to procure power at ₹3.70 per unit by 2029. These reforms have encouraged data centres and other companies to invest in the state.
Big Push for Tourism Development
The Chief Minister directed officials to promote tourism aggressively. He asked them to prepare a master plan for beach tourism. Suryalanka Beach will be developed across a 15-kilometre stretch. He also proposed island tourism projects on the lines of the Maldives, with 25,000 rooms planned. Other tourist destinations will receive improved infrastructure and amenities.
Focus on Food Processing and Industrial Growth
CM Naidu stressed the need to establish more food processing units in the Tirupati region. He said value addition and global marketing would benefit farmers significantly. He also instructed officials to identify 5,000 acres for the proposed Space City. Steps will be taken to set up food parks and aluminium downstream units in Makavarapalem.
AP IT Infra Portal Launched
Later, the Chief Minister launched the AP IT Infrastructure Portal, aimed at strengthening digital and industrial growth.
Ministers and Officials Present
Several ministers, including Nara Lokesh, Atchannaidu, Payyavula Kesav, and Gottipati Ravi, attended the meeting. MP TG Bharath, Chief Secretary K Vijayanand, and senior officials were also present.
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