Curation Team
VIJAYAWADA: Chief minister N Chandrababu Naidu emphasised the need for a Visakhapatnam master plan that aligns with future investments and requirements. He noted that several companies are rushing to Visakhapatnam, where very little land is available.
Addressing the State Investment Promotion Board (SIPB) meeting here on Wednesday, Naidu stressed the importance of identifying suitable land for the companies coming with investment plans and creating the required infrastructure for future needs.
When the officials raised concerns about traffic and infrastructure challenges in cities like Pune and Bengaluru, the chief minister advised them to work on a master plan that could sustain the needs of Visakhapatnam for the next few decades. He instructed officials to work on proactive plans for airport-rail connectivity, highways, and metro projects. Naidu emphasised that, along with setting up companies, an ecosystem should be established for the common people to reside in those areas.
SIPB gave a green signal for four new companies to set up their shop in Visakhapatnam. The global brands Sify, Sattva, BVM, and ANSR have proposed investments totalling ₹20,216 crores, which were approved at the SIPB meeting chaired by Naidu. These investments are expected to create employment opportunities for 50,600 people.
HRD, IT Minister Nara Lokesh, as the chairman of the subcommittee, explained the details of the proposed investments. He mentioned that the arrival of the prestigious companies would further enhance Visakhapatnam’s reputation. He also shared insights on the discussions held with these companies, their current status, and strengths and weaknesses.
So far, 113 projects were approved in SIPB meetings after the NDA came into power last year. These include 46 projects in the industrial sector, 41 in the energy sector, 11 in tourism, 11 in IT, and 4 in the food processing industries. The proposed projects are bringing in investments worth ₹5,94,454 crores, creating employment opportunities for 5,56,568 people.
