Tue Nov 19 22:00:00 UTC 2024: ## Andhra Pradesh Approves ₹85,000 Crore in Investments, Creating 34,000 Jobs
**Vijayawada, November 20, 2024** – The Andhra Pradesh State Investment Promotion Board (SIPB) has approved investments totaling ₹85,000 crore, creating an estimated 34,000 jobs. The decision, announced following the board’s first meeting chaired by Chief Minister N. Chandrababu Naidu on November 19th, aligns with the state’s recently unveiled industrial policy, which emphasizes job creation as a key incentive.
The meeting reviewed investment proposals and agreements from the past five months, focusing on progress and the status of previously signed deals. Ten major industries received approval, including significant investments from:
* **Arcelor Mittal & Nippon Steel:** ₹61,780 crore investment in Nakkapalli, generating 21,000 jobs by 2029.
* **LG Electronics Private Limited:** ₹5,001 crore investment, creating 1,495 jobs.
* **Astha Green Energy Ventures:** ₹8,240 crore investment, creating 4,000 jobs.
Other significant investments were made by Kalyani Strategy Systems Limited, TAFE Parashia India Limited, Phillips Carbon Black Limited, Azad India Mobility Limited, Dallas Technology Center LLP, Green Solar IRAP Limited, and Ecoren Energy India Limited. The investments will contribute significantly to Andhra Pradesh’s economic growth and employment opportunities. The meeting was attended by Deputy Chief Minister Pawan Kalyan, several ministers, the Chief Secretary, and senior officials.
First Piper 