While the energy space attracted maximum investor interest, manufacturing, infrastructure, retail, automobile, food processing, information technology, and tourism sectors were also in the limelight, Chief Minister N. Chandrababu Naidu said
Visakhapatnam : The Andhra Pradesh government has signed 331 MoUs, involving investment proposals of Rs 4.78 lakh crore, with various companies during the three-day-CII Partnership Summit here.
“The investments if realised may result in creating 10 lakh jobs,” Andhra Pradesh Chief Minister N Chandrababu Naidu said at the concluding session of the Summit which began on January 10.
While the energy space attracted maximum investor interest, manufacturing, infrastructure, retail, automobile, food processing, information technology, and tourism sectors were also in the limelight, N. Chandrababu Naidu said.
Subhash Chandra-owned Essel group announced large investments for two projects in the state.
As per the MoU, Essel would set up a large solar panels manufacturing facility and a smart industrial city involving investments of Rs 13,000 crore. The smart industrial city would attract at least 200 industries with investment potential of Rs 73,000 crore, Chandra said.
Union Civil Aviation Minister Ashok Gajapathi Raju, who was also present for the concluding ceremony, said the Centre has agreed to develop three airports in Andhra Pradesh at Visakhapatnam, Nellore and Kurnool.
Among the other proposals, Housing Development Corp Ltd will extend loans amounting to 75 bln rupees while Andhra Bank will invest 50 bln rupees to boost urban infrastructure in Amaravati, the state’s new capital.
Public sector oil major Hindustan Petroleum Corp Ltd has signed an MoU with the Andhra government to develop a city gas network in east and west Godavari districts, at an investment of 10 bln rupees. Indian Oil Corp Ltd has signed a pact to set up an LPG bottling plant and city gas network in the state at an investment of 48.5 bln rupees, the government official said.
Officials said during the summit, the Rashtriya Ispat Nigam Limited (RINL), the corporate entity of Visakhapatnam Steel Plant, inked an MoU with Andhra Pradesh government for expanding the capacity and other works with an investment outlay of Rs 38,500 crore.
The Andhra Pradesh government also signed two MoUs with State Power Investment Corporation (SPIC) and Sany Group of China for setting up power projects of 5,000 MW involving USD 4.8 billion. According to a senior official of the state government, over 165 MoUs were signed in areas of industry and food processing.
