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The Andhra Pradesh State Investment Promotion Board, led by Chief Minister N Chandrababu Naidu, has approved investments totaling Rs 85,083 crore, projected to create nearly 34,000 jobs. Key projects include an integrated steel plant by ArcelorMittal and Nippon Steels, which will invest Rs 61,780 crore and employ 21,000 people. Other notable investments come from LG Electronics, Kalyani Strategies, Phillips Carbon Black, and Azad India Mobility, contributing to significant job creation in the region.
Nara Lokesh, Andhra Pradesh's Minister and General Secretary of the Telugu Desam Party, addressed concerns from former Infosys CFO Mohandas Pai regarding the state's governance and infrastructure. He acknowledged the challenges faced over the past five years but emphasized ongoing efforts to rebuild and attract investment, particularly in Amaravati. Lokesh highlighted the state's potential, citing the return of talent and commitment to developing world-class infrastructure as key factors in regaining investor trust.
Bengaluru faces a crisis as heavy rains reveal significant infrastructural issues, prompting former Infosys CFO TV Mohandas Pai to criticize the Karnataka government for its inaction on vital concerns like roads and drainage. His tweets express widespread frustration among residents and MNCs reconsidering expansion plans in the city. Pai also highlighted the need for urgent action from Andhra Pradesh's leadership to restore trust after previous governance failures.
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