CII Kakinada Summit Sees Investment Mous Worth ₹6,742 Crore

The summit was held at Jawaharlal Nehru Technological University Kakinada (JNTUK). The projects are expected to generate 18,000 jobs and include four projects worth ₹2,090 crore that have already been grounded.

Separately, 35 projects worth ₹295.33 crore were grounded or inaugurated, with the potential to create 4,039 jobs. The programme included 24 foundation-laying ceremonies and 11 inaugurations, including the launch of SAF One’s sustainable aviation fuel plant in Kakinada and 31 micro, small and medium enterprise (MSME) units in Kakinada and East Godavari districts.

Secretary to the industries, commerce and food processing, N. Yuvraj, said foundations were also laid for 15 MSME parks across the state, involving ₹161 crore. Provisional allotment orders were handed over to 10 MSME entrepreneurs.

He said the Visakhapatnam conference on October 7 and the Kakinada summit on Monday together saw 46 pacts (MoUs) signed for investments worth ₹25,754.61 crore, with the potential to generate 71,206 jobs. The Kakinada projects were expected to create about 3.3 jobs for every ₹1 crore invested.

An MoU was signed by the Indian National Centre for Ocean Information Services (INCOIS), the AP economic development board and the state government to establish an INCOIS regional centre in Kakinada with an investment of ₹100 crore. The centre is expected to generate 20 direct and 50 indirect jobs and strengthen marine and maritime research and technology.

Kakinada, known for its fertilizer industry and offshore gas operations, is also attracting proposed investments in green fuels and materials. AM Green has committed to green ammonia and green aluminium capacity of 2.2 million tonnes a year, with an investment of ₹56,000 crore and 5,600 jobs.

Waaree is to establish a 1.2-million-tonne green ammonia plant in the Kakinada special economic zone with an investment of ₹15,000 crore, expected to create 2,600 jobs. John Cockerill plans a 2-GW electrolyser factory with an investment of ₹2,000 crore and 500 jobs.

SAF One’s sustainable aviation fuel plant was launched on Monday. The proposed green ammonia ecosystem involves investments of more than $8 billion.

Six of the 15 tourism and hospitality MoUs, worth ₹698.61 crore and expected to generate 5,885 jobs, cover projects in Kakinada, East Godavari and Srikakulam districts. The foundation was laid for a Compass Enterprises tourism project in Rajamahendravaram, costing ₹101.28 crore and expected to create 150 jobs. The Sunrise Hotels project in Kakinada, involving an investment of ₹54.1 crore and 75 jobs, was inaugurated.

Deputy chief minister Pawan Kalyan said Andhra Pradesh offered opportunities for industrial growth and that projects worth ₹2,090 crore that are already under way would generate 18,000 jobs in Kakinada and its surrounding areas. The state, he said, was drawing inspiration from Singapore and preparing plans to encourage industrial investment.

Kalyan urged industrialists to contribute to social development without harming the environment.

Tourism minister Kandula Durgesh, roads minister B. Janardhana Reddy, industries minister T.G. Bharat, EDB CEO Shan Mohan and collectors of six districts attended the summit.

Kakinada collector Harendhira Prasad said Kakinada would be developed into an industrial hub.