The Andhra Pradesh government has approved fresh investment proposals worth ₹20,216 crore, paving the way for four major companies to establish their presence in Visakhapatnam. These investments are expected to generate over 50,000 jobs and significantly contribute to the city’s development and growth as a key economic hub.
The approvals came during the 9th State Investment Promotion Board (SIPB) meeting, which was chaired by Chief Minister N. Chandrababu Naidu. Among the companies greenlit for investment are Sify, Sattva, BVM, and ANSR, each bringing in sizable capital and employment opportunities.
Sify Technologies will invest ₹16,466 crore in building a large data center in Vizag, creating around 600 high-skilled jobs. Sattva Group plans to invest ₹1,500 crore to establish a major tech campus in Madhurawada, projected to generate 25,000 jobs. BVM is set to spend ₹1,250 crore in Endada and aims to create employment for 15,000 people. Meanwhile, ANSR will be investing ₹1,000 crore in Madhurawada with a goal of providing jobs to 10,000 individuals.
Since the formation of the new government, the state has cleared investment proposals totaling ₹5.94 lakh crore, with over 5.5 lakh jobs expected to be created across Andhra Pradesh. IT Minister Nara Lokesh stated that the government’s broader goal is to facilitate the creation of 20 lakh jobs over the next five years, with Visakhapatnam playing a crucial role in this employment and infrastructure growth strategy.
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