Business EconomyPosted at: Nov 10 2026 9:25PM


AP converts 526 investment projects worth Rs 17.2 lakh Cr.

Visakhapatnam, Nov 10 (UNI) Andhra Pradesh has converted 526 of the 714 investment projects received since June 2024, achieving a conversion rate of nearly 74% by project count.
The converted projects represent investments worth Rs 17.2 lakh crore, accounting for approximately 76% of the State's total investment pipeline of Rs 22.6 lakh crore, with an overall employment potential of 19.3 lakh jobs, an official release stated.
The progress reflects the State Government's emphasis on translating investment commitments into projects on the ground, as Andhra Pradesh prepares to host the 31st CII Partnership Summit on November 12 and 13 in Visakhapatnam.
A release here on Tuesday said that the two-day global summit, themed "Navigating the New World Order scheduled to be held in Visakhapatnam on November 12 and 13 is expected to bring together representatives from 58 countries, including overseas Ministers, international speakers, global investors and leading industry representatives.
Leading corporate groups and industry representatives, including Bharat Forge, Kia, ReNew, RPSG Group and GMR, are among the prominent names expected to participate at the Summit. Of the 714 projects in the State's investment pipeline, 526 projects involving investments worth Rs 17.2 lakh crore have been converted. The remaining 188 projects, worth Rs 5.4 lakh crore, are at various stages of consideration and conversion.
Further, 303 projects involving investments of Rs 7.1 lakh crore, with an employment potential of 7.7 lakh jobs, have either been grounded or are scheduled for grounding. The State Government has introduced a project-wise monitoring mechanism to track investments through approvals, groundbreaking, construction and eventual production, with a focus on ensuring that commitments translate into industrial activity and employment.
Among the major investments are AM/NS India's Rs 1.36 lakh crore integrated steel project at Nakkapalli; NTPC Green Energy's Rs 1.85 lakh crore green hydrogen hub at Pudimadaka; Tata Power's Rs 49,000 crore renewable energy project in Anantapur and ReNew's Rs 22,000 crore hybrid renewable energy project at Guntakal.
Other major projects expanding the State's industrial and infrastructure base include BPCL's Rs 96,862 crore refinery-cum-petrochemical complex at Ramayapatnam in Prakasam district, with an employment potential of 1,200 jobs; Reliance's Rs 51,300 crore solar and battery storage project in the Anantapur region, comprising 6.6 GW of solar capacity and 29 GWh of battery storage, with an employment potential of 20,000 jobs; and GMR' Rs 20,000 crore aviation hub and Maintenance, Repair and Overhaul (MRO) facility at Bhogapuram, spread across 500 acres, with a proposed employment potential of 60,000 jobs.
Sri City has also emerged as a major industrial and export hub, hosting more than 260 companies from 31 countries. The industrial hub accounts for US$6 billion in exports and provides over 75,000 jobs, with women accounting for half of its workforce.
In the technology sector, Google's proposed US$15 billion AI hub and subsea cable landing ecosystem in the Visakhapatnam region, alongside Reliance's proposed Rs 1.08 lakh crore AI data-centre cluster near Bhogapuram, are expected to strengthen Andhra Pradesh's digital infrastructure ambitions.
The Government's investment strategy is closely aligned with its ambitious mission of creating 20 lakh employment opportunities through public and private sector initiatives.
UNI DP CDS
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