The Andhra Pradesh government approved investment proposals totalling Rs 2 trillion (Rs 2 tn) at a State Investment Promotion Board meeting chaired by Chief Minister N. Chandrababu Naidu. The approvals cover multiple sectors and are intended to strengthen the state economy and generate more than 60,000 employment opportunities. The decisions form part of a push to accelerate industrial development and attract long-term investors.

A major share of the approved investment is concentrated in the energy and industrial sectors. ArcelorMittal Nippon Steel India proposed an integrated steel plant with a captive port facility at Bagitammampeta in Srikakulam district involving an investment of around Rs 1.61 trillion (Rs 1.61 tn). The project is expected to create substantial local employment and bolster the state’s industrial profile.

The government also cleared renewable energy projects, including solar, wind and pumped storage schemes, to expand clean power capacity and meet growing demand. Companies such as JSW Neo Energy and Adani Green Energy were named as participants in developing these initiatives. The projects are designed to support wider sustainability objectives and secure additional power for industrial and domestic use.

The chief minister directed officials to prioritise speed of doing business over a narrow focus on ease of doing business and urged rapid movement from approval to implementation. The administration plans to upgrade supporting infrastructure such as roads, water supply and connectivity to enable efficient industrial operations. Officials said the district-level distribution of projects aims to promote balanced regional development.

Beyond steel and renewable energy, the SIPB approved proposals in manufacturing and biofuels that are spread across several districts to broaden the industrial base. The measures are presented as steps to rebuild economic momentum, strengthen investor confidence and create sustainable opportunities for youth. The state anticipates that the combined approvals will enhance fiscal growth and stimulate further private investment.