The Andhra Pradesh cabinet has approved a monumental ₹80,000 crore investment push, green-lighting major infrastructure and industrial projects, including metro rail systems for Visakhapatnam and Vijayawada. This strategic financial commitment is poised to generate 1.5 lakh jobs, positioning Andhra Pradesh as a preferred destination for investors and propelling the state towards a sustainable, eco-friendly, and equitable urban future with enhanced connectivity and economic vibrancy.
A significant portion of the approved investments is directed towards enhancing urban mobility. The cabinet has given the green light to invite tenders for up to 40% of Phase I works of the Visakhapatnam Metro Rail project, estimated at ₹11,498 crore, to be executed under a 50:50 government joint venture. Similarly, in-principle approval has been granted for Phase I of the Vijayawada Metro Rail Project, with two corridors estimated at ₹10,118 crore, also following a 50:50 equity funding model. These metro projects are critical for alleviating traffic congestion, reducing vehicular emissions, and promoting sustainable public transport in rapidly growing urban centres.
Beyond mass transit, the cabinet’s approvals signal a robust push for technological and industrial growth. The Andhra Pradesh Electronic Components Manufacturing Policy 4.0 has been cleared, aimed at fostering the development of electronic industries across the state. Specific land allocations include 4.45 acres to Phenom People Pvt Ltd in Vizag for a ₹200 crore investment, expected to create 2,500 jobs. Furthermore, 3.6 acres for Sify Infinity Spaces at Madhurawada IT Hill and another 50 acres at Paradesipalem in Vizag have been allocated for a massive ₹16,466 crore investment, strategically positioning Visakhapatnam as a key data hub for cloud computing, data storage, and digital services.
The investment drive also extends to green energy and other critical sectors. The cabinet approved an 800 MW pumped storage power project at Owk in Nandyal district for RVR Projects Pvt Ltd, a significant step towards enhancing renewable energy capacity and grid stability. Crucially, the Green Hydrogen Valley Declaration, recently announced in Amaravati, also received cabinet approval, underscoring the state’s commitment to pioneering clean energy solutions. Additionally, incentives for the development of luxury hotels by ITC Hotels Ltd and Lansum Leisures & Entertainment LLP in Vizag were cleared, boosting the tourism and hospitality sectors.
These comprehensive investment approvals reflect a holistic approach to development, integrating economic growth with environmental sustainability and social equity. The projected creation of 1.5 lakh jobs will provide widespread employment opportunities, contributing to a more inclusive and gender-neutral workforce. By prioritising clean energy, digital infrastructure, and efficient urban transport, Andhra Pradesh is not only attracting significant investment but also laying the groundwork for resilient, technologically advanced, and environmentally conscious cities that offer an improved quality of life for all its citizens.
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