Amaravati: The Andhra Pradesh Cabinet, at a meeting here, approved a slew of big-ticket investments worth over Rs. 15,000 crore focused on clean energy, infrastructure, manufacturing, and tourism, signaling a renewed push to accelerate capital inflows and job creation across the state. The meeting, chaired by Chief Minister N. Chandrababu Naidu, gave traction to long-pending proposals for infrastructure, while expanding incentives for new-economy sectors such as quantum computing and electronics manufacturing clusters.
The Cabinet granted revised administrative sanction for 506 projects under the State Water Action Plan, with a combined outlay of Rs. 9,514.63 crore, strengthening the backbone for supply of irrigation and drinking water. Significantly, the government authorised Amaravati Development Corporation Limited (ADCL) to clear the L1 bid for the expansion of the E3 Road (phase III), comprising a six-lane elevated corridor, underpasses, bridges and a new interchange linking to NH-16. The contract, valued at Rs. 5,325.7 crore, 4.05 per cent above the estimated cost, will operate on a lump-sum model with a two-year defect-liability period.
Besides, the Cabinet approved one of the state’s largest subsidy programs in the renewable energy space, sanctioning an additional Rs. 20,000 subsidy each for 27.2 lakh Backward Class households installing rooftop solar systems of capacity up to 2 kWp. The scheme, aligned with the PM Surya Ghar: Muft Bijli Yojana, is expected to cost Rs. 5,445.7 crore and operates over and above Union Ministry of New and Renewable Energy’s central financial assistance.
Investment promotion featured prominently, with 14 industrial proposals worth more than Rs. 15,000 crore gaining approval. These projects cover solar energy, chemicals, pharmaceuticals, food processing, glass manufacturing, biofuels, MSME parks helmed by women and a multi-product industrial cluster. Officials estimate the ventures could generate over 100,000 direct and indirect jobs.
Separately, the Cabinet cleared 11 projects in quantum computing, electronics and IT services involving investments of Rs. 1,421.2 crore and creating 3,057 direct jobs. Most of the quantum-technology proposals will anchor the planned Amaravati Quantum Valley, envisioned as India’s first dedicated hub for quantum research and commercialisation.
The state continued to advance logistics and maritime infrastructure, allocating 153.77 acres in Chevuru village near Tettu Railway Station in Nellore district for a multi-modal rail cargo terminal proposed by the Ramayapatnam Cargo Reception Terminal Pvt. Ltd. Another approval cleared 29.58 acres at Juvvaladinne Fishing Harbour for Sagar Defence Engineering to establish an autonomous Maritime Shipyard and Systems Centre.
Tourism infrastructure also received a significant push. The Cabinet resolved a long-pending hotel project in Tirupati by approving a name change from Mumtaz Hotels Ltd. to Swara Hotels Ltd. and allotting alternative land for Oberoi Vilas luxury resort, entailing Rs. 250 crore in investment with potential to create roughly 1,500 jobs. Four additional tourism and hospitality proposals, including five-star hotels, convention centres, and luxury resorts in Visakhapatnam, Bapatla, and Tirupati, were approved with incentives, representing investments of Rs. 784.39 crore, with an eye on more than 4,300 jobs.
In the clean energy space, the government accepted proposals from Ganeko Three Energy for a 300 MW wind-solar hybrid project in Anantapur district and from Chinta Green Energy for a 1,700 MW (AC) solar project with storage in Sri Sathya Sai district. The latter will involve phased development, 30-year leased revenue land, and completion timelines of 24 months for capacity rollout. The Cabinet also ratified earlier government orders on a 3.64 per cent DA/DR increase for state employees and pensioners, effective from January and July 2023, and approved allotment of two dam toe-power projects to Odisha Power Consortium Ltd.
Source: https://bit.ly/3MV3kgR
