Andhra Pradesh State Investment Promotion Board sanctioned 11 projects totaling Rs 9,076 crore, aiming to create 10,531 job opportunities. Among the approved ventures is Adani Foundation’s Rs 2,200 crore project in Visakhapatnam district. Chief Minister N. Chandrababu Naidu, leading the State Level Investment Promotion Board meeting, emphasized the importance of industrialization for boosting income sources and fostering entrepreneurship among farming families.
The Chief Minister highlighted the necessity of attracting investments to bolster the rural economy and meet the rising demand for ethanol. He suggested increasing ethanol blending to 40% to benefit maize farmers economically. Additionally, he urged officials to promote investments in ethanol production, anticipating a surge in demand for blending with petrol and diesel. CM Naidu also instructed the formulation of a comprehensive policy encompassing ethanol, methane, and aviation fuel.
Emphasizing wealth creation and a circular economy as pivotal to the government’s development agenda, the Chief Minister stressed the need for expanding food processing industries extensively. Proposing the establishment of 100 Experience Centers at key tourist spots like Thimmamma Marrimanu, CM Naidu envisioned transforming destinations such as Polavaram, Dindi, Gandikota, Kambham Cheruvu, and Lambasingi into world-class attractions. He mentioned the interest of Jindal Group in setting up a resort near Lambasingi and Araku.
Furthermore, CM Naidu advocated for the promotion of Andhra Pradesh’s traditional handicrafts and cultural heritage, including Etikoppaka, Kondapalli, Dharmavaram, Mangalagiri, Uppada, and Ponduru. He directed officials to expedite the Suryalanka Master Plan preparation and develop projects like Kangundi Fort in Kuppam and an Elephant Safari in Chittoor district. Notably, the Chief Minister acknowledged the substantial growth in hotel infrastructure in the state, with approvals granted for an additional 9,364 hotel rooms in the past two years, bringing the total capacity to 13,753 rooms.
