The Andhra Pradesh cabinet has approved a massive 80,000 INR-Crore investment package, which includes green signals for key metro projects in Visakhapatnam and Vijayawada. These decisions are expected to generate 1.5 lakh jobs, reinforcing the state’s position as a top investment destination.
The cabinet gave the go-ahead to invite tenders for 40% of Phase I works of the Visakhapatnam Metro Rail project. It is estimated at 11,498 INR-Crore. It also granted in-principle approval for the Vijayawada Metro, which will feature two corridors and cost 10,118 INR-Crore. Both metro projects will follow a 50:50 equity funding model between Andhra Pradesh and Central Governments.
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Additionally, the cabinet approved the Electronic Components Manufacturing Policy 4.0. This will aim to further attract high-tech investments. Major land allocations were cleared for IT parks, data centers, and hospitality ventures in Visakhapatnam, including:
- Phenom People Pvt Ltd: The cabinet approved 4.45 Acres of land in Visakhapatnam. The company plans to invest 200 INR-Crore in an IT campus expected to create 2,500 jobs under the AP IT & GCC Policy.
- Sify Infinity Spaces Ltd received approval for 3.6 Acres at Madhurawada IT Hill and 50 Acres at Paradesipalem, priced at 50 INR-Lakh per Acre. With a total investment of 16,466 INR-Crore, this move aims to develop Vizag into a prominent data hub.
- Sattva Developers Pvt Ltd: The government sanctioned 30 Acres at Madhurawada at a rate of 1.5 INR-Crore per Acre. Their proposed investment of 15,000 INR-Crore targets expansive IT and commercial development.
- ANSR Global Corporation Pvt Ltd was allotted 2.5 Acres in Madhurawada to invest 1,000 INR-Crore in expanding its Global Capability Centre operations. This will potentially generate 10,000 jobs.
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The cabinet also sanctioned an 800 MW pumped storage power project in Nandyal and ratified the Green Hydrogen Valley Declaration announced in Amaravati.
In conclusion, these approvals reflect Andhra Pradesh’s push for industrial growth, sustainable infrastructure, and urban mobility through transformative metro projects and strategic investments.
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