The Andhra Pradesh State Investment Promotion Board has approved 10 information technology and futuristic technology projects involving a total investment of Rs 526.25 crore and projected employment of 8,896 people across the state, according to a state government press release reported by PTI.
The board, headed by Chief Minister N Chandrababu Naidu, cleared the proposals at its meeting on Friday. The projects cover technology training, IT operations, quantum computing and biotechnology, with major investments planned in Visakhapatnam and Amaravati. The release also identified Kadapa as one of the locations expected to benefit from the state’s technology investment push.
Among the approved proposals is a Rs 100 crore investment by Muthoot Fincorp Limited to establish an integrated hub for an artificial intelligence and technology training centre in Visakhapatnam. The city, which is also the state’s major port centre, is expected to receive further technology-related operations and training facilities under the approved projects.
Deloitte has received approval for a Rs 44 crore investment to establish an operations centre in Visakhapatnam. The proposed facility will have a capacity of 2,500 seats. The state government press release described the project as a state-of-the-art operations centre, but did not provide an implementation schedule or specify how many jobs it would create.
In Amaravati, Quantum Codon Pvt Ltd has received approval for a Rs 167 crore investment in an integrated quantum artificial intelligence-driven biotechnology innovation campus focused on drug discovery research. The project is expected to create 126 jobs, according to the release. The proposal places quantum computing, artificial intelligence and biotechnology within the technology development agenda being advanced for the planned capital region.
The state government said the approved projects would support its objective of making Andhra Pradesh a centre for advanced technology and creating employment opportunities for local youth. The press release described Visakhapatnam as gaining momentum through approvals for large-scale operations and training centres involving global firms, while positioning Amaravati as a potential hub for quantum computing, photonics and AI-driven biotechnology.
The approvals are investment clearances and do not, by themselves, establish that construction, recruitment or commercial operations have begun. The government release did not provide project-wise commissioning dates, land details, implementation milestones or a breakdown of the total projected employment across all 10 proposals. The next stage will depend on the projects moving from approval to execution across their respective locations.
