Andhra Pradesh increases retirement age of PSU employees to 62 years

Among other key decisions, the cabinet cleared proposals for rare earth magnet manufacturing units with a combined investment of Rs 3,500 crore by Proterial India and NAN MagneTech, and solar manufacturing expansion by Premier Energies with total investments exceeding Rs 10,000 crore, including ingot, wafer and cell manufacturing units.

It also approved incentives for Shyam Metalics’ Rs 3,678 crore steel project and Royal Enfield’s Rs 2,508 crore motorcycle manufacturing unit, along with a Rs 1,230 crore steel beneficiation project by JSW Steel.

In the IT and electronics sector, the cabinet cleared various proposals including a Rs 2,788 crore data centre project by CtrlS Datacenters, PCB manufacturing by Zetfab, and multiple electronics and IT investments, besides extending approvals for several quantum and AI-related startups. The cabinet also approved large-scale infrastructure spending in Amaravati, including Rs 426 crore works for roads, utilities, and infrastructure in Undavalli layouts, and award of contracts for multiple works under externally aided projects.

In the energy sector, decisions include enhancement of Yaganti pumped storage project capacity to 1,500 MW, approval of a 1,200 MW solar project by NTPC Renewable Energy, and multiple compressed biogas projects under the clean energy policy. The cabinet sanctioned a govt guarantee of Rs 300 crore to APSPDCL for power buy and operations, and approved land allotments for several solar and wind projects across districts.

In the social sector, the cabinet approved extension of post-matric scholarships for SC and ST students, and establishment of new BC residential schools. Tourism-related investments included incentives for multiple five-star hotels, resort, and convention centre projects in Amaravati, Visakhapatnam, Tirupati, and other locations.