Andhra SIPB approves 10 IT, futuristic technology projects worth Rs 526 crore

The Andhra Pradesh State Investment Promotion Board has approved 10 IT and futuristic technology projects worth Rs 526.25 crore, according to an official release. The projects are expected to create 8,896 jobs, with developments planned in Visakhapatnam, Amaravati and Kadapa.

Amaravati: The Andhra Pradesh State Investment Promotion Board (SIPB) on Friday cleared 10 major IT and futuristic technology projects worth over Rs 526 crore.

At its meeting presided over by Chief Minister N Chandrababu Naidu, the SIPB approved projects entailing a total investment of Rs 526.25 crore, projected to create 8,896 high-quality jobs across the State.

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The decision marks a significant step in establishing Andhra Pradesh as a premier global hub for Information Technology, Artificial Intelligence (AI) and Quantum Computing, with strategic developments centred in Visakhapatnam, Amaravati and Kadapa.

According to an official release, top-tier firms received approval to establish large-scale operations and training centres in Visakhapatnam.

The capital region of Amaravati is set to become a pioneering national hub for Quantum Computing, Photonics and AI-driven Biotechnology.

The SIPB approved a policy incentive timeline extension under the AP Electronics Policy 2021-24 for AIL Dixon Technologies Pvt Ltd’s Rs 70 crore manufacturing unit in Kadapa, expected to create 300 jobs.

According to the release, Amaravati is officially positioned to lead India’s deep-tech revolution with multiple pioneering quantum and biotech initiatives. Srsti Quantum Pvt Ltd will invest Rs 2,700 crore to set up a Quantum Computing Hardware, Nanofabrication Research and Manufacturing facility, creating 3,000 jobs.

Quantum Codon Pvt Ltd will invest Rs 167 crore to establish an Integrated Quantum AI-Driven Biotechnology Innovation Campus for drug discovery research, creating 126 jobs.

Arohak Technologies Pvt Ltd will invest Rs 62 crore to set up a Photonics Quantum Research & Innovation Centre, generating 300 jobs.

The SIPB cleared TriQuanta Labs Pvt Ltd’s proposal to invest Rs 35 crore to set up a Quantum Innovation Centre alongside India’s first hybrid quantum computing hardware manufacturing unit, providing 175 jobs.