APIB Clears Rs 44,776-Cr Investments

Amaravati: Andhra Pradesh Investment Board (APIB) on Thursday approved projects worth Rs44,776 crore this month, largely in the clean energy space, which will generate 19,580 jobs, the State government said on Thursday.

Of the projects approved, Rs42,932 crore worth of projects are in the energy sector, mostly solar energy. The energy projects cleared include Rs14,328 crore investment by Navayuga Engineering Company Ltd and Rs10,300 crore investment by Megha Engineering and Infrastructure Ltd (MEIL). Other companies whose projects were cleared include Tata Power Renewable Energy Ltd (Rs2,000 cr), Ayana Renewable Power Pvt Ltd (Rs4,435 cr), Ampin Energy Transition Pvt Ltd (Rs3,142 cr), SAEL Solar MHP1 Pvt Ltd (Rs1,728 cr), SAEL Solar MHP2 Pvt Ltd (Rs1,728 cr), Cuddapah Renewables Pvt Ltd (Rs1,163 cr) and Ecoren Energy India Pvt Ltd (Rs1,651 cr).

According to the state government, Rs1,844 crore worth of projects in other sectors were also approved. Since July 2024, the State Investment Promotion Board (SIPB), headed by Chief Minister Nara Chandrababu Naidu, has approved projects worth Rs3.1 lakh crore with employment potential of 3.12 lakh people.