The Andhra Pradesh cabinet has approved investment proposals worth Rs 1 lakh crore, aimed at the state’s development and generating employment for youth.

The cabinet approved a Rs 2,200 crore proposal by Visakha Realty Ltd, which aims to develop an IT Park in Visakhapatnam in three phases and has the potential to create 30,000 jobs.

“The cabinet greenlighted a Rs 2,172 crore proposal by Raheja Corp Real Estate, which aims to develop an IT park and a residential complex in a 27-acre plot in Visakhapatnam,” said an official press release late on Monday. The Raheja Corp investment is expected to create 9,681 jobs.

Similarly, the Cabinet gave approval for a Rs 23,000 crore proposal by Indichip Semiconductors company to manufacture silicon carbide devices and others at Orvakal Node Industria

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