Andhra Pradesh State Investment Promotion Board (SIPB) approved investments of Rs 20,216 Cr on Wednesday. These investments, mostly focused on IT and allied sectors are expected to create about 50,000 jobs.
The ninth SIPB meeting was held in Amaravati under the leadership of CM Nara Chandrababu Naidu. The Board gave nod to four major projects in IT sector in the meeting.
SIPB gave approval to Sattva Group to set up IT Park in Vishakapatnam with an investment of Rs 1,500 Cr. Sattva Vantage Vizag Campus spreading over 30 acres will include premium office spaces, residences and related infrastructure.
Sattva Group’s investment in Vishakapatnam is said to give a boost to the creation of about 25,000 jobs.
SIPB also gave official nod to ANSR to set up Global Capability Centre (GCC) with an investment of Rs 1,000 Cr. While AP Govt entered into an MOU with ANSR earlier in July, with SIPB’s nod, the landmark project is to take off soon in Vishakapatnam. It is expected to create 10,000 jobs.
SIPB also approved Sify Infinit Spaces’ Rs 1,466 Cr investment to set up data centre in Vishakapatnam. BVM Energy and Residency also received approval to set up a trade centre in Vishakapatnam with an investment of Rs 1,250 Cr.
With all the major investments approved in this meeting related to Vishakapatnam, the beach city’s IT sector is all set to undergo a landmark transformation in the coming years.
