AP Signs Pact for Rs 3.65 Lakh Crore Investments Ahead of Cii Summit
Investments to create 1.26 lakh jobs as CM Naidu pushes major industrial growth
Visakhapatnam: In a single day, 35 Memorandums of Understanding were signed for investments in Andhra Pradesh, adding a new chapter to the alliance government’s investment drive.
These agreements, signed in the presence of chief minister Chandrababu Naidu, involves promises worth Rs 3.65 lakh crore. These are expected to generate employment for 1.26 lakh people. The signing was done in the run-up to the CII partnership summit in Visakhapatnam.
The chief minister said the government was committed to making Andhra Pradesh the top state for investments. He was engaged in back-to-back meetings on Thursday, involving discussions with 15 industrialists. Naidu outlined opportunities across various regions and sectors, explained the state’s connectivity advantages, and highlighted the supportive environment established for investors.
Prominent companies, including ReNew Energy Global Plc, were among the firms that signed the agreements. The government estimates that investments of up to Rs 10 lakh crore could flow into the state during the two-day summit.
The CM expressed his satisfaction with securing commitments worth Rs 3.65 lakh crore even before the conference commenced. “It is gratifying to see such large-scale interest ahead of the summit, and I would like to thank the industrialists for their confidence in Andhra Pradesh,” he said.
Global brands such as Google, ArcelorMittal and BPCL are also investing in the state.
Naidu cited the state’s strengths in green energy, saying government policies have have helped attract several projects in this sector. “AP’s 1,000km coastline is a natural advantage for logistics, supported by a network of ports, roads and railways,” he said and urged industrialists to seize opportunities in horticulture, agriculture, aquaculture and food processing.
He also highlighted ambitious plans for Space City, Drone City, and Electronic City.
The CM noted that the state’s mineral wealth offered further potential for industrial growth and stressed that the government was committed to the motto of “one family, one businessman.”
The government, Naidu said, is ready to provide land and support to those who embrace this idea. “Permissions and clearances will be granted swiftly under the state’s ‘speed of doing business’ initiative,” he said.
