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Andhra Pradesh government inks deals worth Rs 4.25 lakh crore

CM N. Chandrababu Naidu said HPCL and GAIL will make an investment of Rs 40,000 crore and ONGC Rs 78,000 crore.

Visakhapatnam: The AP government has signed MoUs with as many as 128 companies that may bring in investments worth Rs 4.25 lakh-crore on the first day of the Partnership Summit on Friday. MoUs with public sector oil and gas companies alone are worth Rs 1.38 lakh-crore which include Rs 20,000 crore for expansion of the existing facilities in Visakhapatnam.

The AP government will conclude the 21st edition of Partnership Summit by signing 713 MoUs which could fetch an investment of Rs 10.05 lakh-crore. The MoUs, if executed, could provide employment to 14.9 lakh people. During last year’s Summit, 328 MoUs were signed. Of the 128 companies which inked the MoUs with the government on Friday, 68 are related to IT and allied services. These new companies will provide around 5.5 lakh jobs.

Chief Minister N. Chandrababu Naidu said HPCL and GAIL will make an investment of Rs 40,000 crore and ONGC Rs 78,000 crore. HPCL will invest Rs 20,000 crore for expansion of its existing facilities in Visakhapatnam.

( Source : Deccan Chronicle. )
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