The 14th meeting of the State Investment Promotion Board (SIPB), chaired by Chief Minister N. Chandrababu Naidu, on Tuesday approved investments worth ₹19,391 crore across 14 major projects, expected to generate employment opportunities for 11,753 youth in Andhra Pradesh.

Addressing the meeting, the Chief Minister commended the collective efforts of officials in attracting substantial investments during 2025 and urged them to maintain the same team spirit and momentum in 2026 to draw even higher levels of investment. Stressing the need for speed in governance, he said timely decision-making and swift implementation were critical to sustaining investor confidence.

Highlighting reforms in the power sector, Chandrababu Naidu said the State government had absorbed Rs. 4,500 crore towards true-up charges without passing the burden on to consumers. At the same time, power tariffs were reduced by 13 paise per unit, providing relief to households and industries alike. He noted that the government had set a long-term target of procuring power at Rs. 3.70 per unit by 2029. He said that these measures had significantly improved the investment climate, with several companies, including data centre operators, coming forward to invest in Andhra Pradesh due to reliable and affordable power supply.

Turning to tourism, the Chief Minister directed officials to promote the sector in a big way and prepare a comprehensive master plan for beach tourism. He proposed developing Suryalanka beach along a 15-kilometre stretch and promoting island tourism on par with global destinations such as the Maldives. For this purpose, he suggested developing around 25,000 rooms, along with world-class infrastructure and amenities. He also instructed officials to upgrade all major tourist destinations in the State with better facilities to attract both domestic and international visitors.

On the agriculture and food processing front, Chandrababu Naidu emphasised the need to establish more food processing units, particularly in the Tirupati region. 

He said value addition and global marketing facilities would significantly benefit farmers by improving incomes and market access. He asked officials to focus on setting up food parks and aluminium downstream units in Makavarapalem, and also mentioned that around 5,000 acres would be required for the proposed Space City project.