8th SIPB Meet Clears Proposals Worth ₹39,473 Cr of 22 Projects

INVESTMENT proposals to the tune of ₹5,74,238 crore related to 109 projects have been approved during the eight meetings of the State Investment Promotion Board (SIPB) held so far after the formation of the coalition government.

- S VISWANATH @ Vijayawada

Employment will be provided to around 5 lakh people with the setting up of 109 projects.

On Thursday, the eighth SIPB meeting was held under the chairmanship of Chief Minister N Chandrababu Naidu at his camp office. It approved investment proposals to the tune of ₹39,473 crore. The investments related to 22 projects will provide jobs to 30,899 people.

The investment proposals cleared by the SIPB are related to sectors like IT, food processing, energy and tourism. Of these, 11 projects are in industries and commerce, 7 in the energy sector, 3 in tourism, and 1 each in IT and food processing.

So far, the eight SIPB meetings have approved 109 projects. These include 46 in the industrial sector, 41 in energy, 11 in tourism, 7 in IT, and 4 in food processing.