CII Summit: 11 MoUs worth Rs.1.40 Lakh Crore Signed to Generate 10,472 Jobs
The Chief Minister said that the State government had earmarked 5,000 acres near Tirupati for the space sector
Visakhapatnam: As many as 11 MoUs were signed with proposed investment of Rs 1,40,705 crore and an estimated employment potential of 10,472 jobs in the presence of Chief Minister N Chandrababu Naidu on the second and concluding day of 31 CII Partnership Summit on Friday.
In addition to the 11 MoUs a Government Order was issued for expansion of Hindalco Industries Limited in the chemicals and petrochemicals sector under the jurisdiction of APIIC, involving an investment of Rs 880 crore and expected to generate employment for 447 people.
The other MoUs include JSW steels: Manufacturing sector – Proposed investment of Rs 15,000 crore, providing employment to 2,500 people.
Agnikul Cosmos Private Limited: Aerospace and Defence sector – Proposed investment of Rs 510 crore, generating 350 jobs. Hathor Rockets Private Limited: Aerospace and Defence sector – Proposed investment of Rs 250 crore, generating 200 jobs. Greenzone Renewable Energy Private Limited: Renewable Energy sector – Proposed investment of Rs 8,000 crore, generating 200 jobs and Indian Oil Corporation Limited (IOCL): Renewable Energy sector – Proposed investment of Rs 6,600 crore, generating 800 jobs.
The other MoUs include Kakinada Seaports Limited (KSPL): Ports, Shipbuilding and Maritime sector – Proposed investment of Rs 6,452 crore, generating 852 jobs, EIH Limited: Project under the jurisdiction of APCRDA – Proposed investment of Rs 175 crore, generating 150 jobs.
In addition the Hero MotoCorp Limited signed P4 MoU to provide scholarship to 720 IIT students costing Rs 32.8 crore. Besides the ITC Limited signed a P4 to uplift people of hundred villages including 15 model villages.
Later addressing the industrialists Naidu called upon industrialists to focus not only on signing agreements but also on grounding projects and ensuring their timely implementation. He assured that the State Government would extend complete support to industries in taking their projects forward.
The Chief Minister expressed happiness over Hero MotoCorp coming forward to provide financial assistance to 1,120 students through the Brij Mohan Lall Munjal Scholarship. He also thanked ITC for extending support to the P4 initiative as part of its corporate social responsibility.
He said that support had been extended to 25,000 Bangaru Kutumbalu (Golden Families) under the initiative. Citing Prime Minister Narendra Modi as an example of someone who rose from an extremely poor family to the highest position in the country, he emphasised the importance of creating opportunities for the underprivileged to progress in life.
The Chief Minister said that the State government had earmarked 5,000 acres near Tirupati for the space sector, adding that the region was well suited for industries in the space and defence sectors.
Stating that modern technological advancements were transforming everyday life, he stressed the need to adapt our thinking and approach to changing times. He said Andhra Pradesh offered tremendous investment opportunities in diverse sectors, including semiconductors, artificial intelligence, quantum technology and aerospace.
He called upon premier educational institutions such as IITs across the country to come forward, use Andhra Pradesh as a laboratory for research and development, and promote innovation and new discoveries.
The Chief Minister, however, emphasised that wealth creation must go hand in hand with improving the living standards of the poor. Education, healthcare, and the economic and social conditions of underprivileged communities must be strengthened, he said.
He explained that the P4 initiative was launched with the objective of transforming the lives of underprivileged families by extending support and creating opportunities for their advancement.
Referring to a recent report by O.P. Jindal Global University, he said Andhra Pradesh had secured the second position in the country in the Access to Equality Index. Despite economic challenges, the State was among the leading states in providing economic and social security to its people, he added.
Calling upon industrialists to actively participate in the P4 movement, the Chief Minister cited the example of a woman working in a brick kiln in Kuppam who received support from TVS Company. With the company's assistance, she transformed herself from a brick kiln worker into its owner.
Today, the woman has become an entrepreneur, providing livelihood to another 20 people. Such success stories should emerge across the State, he said.
"We must recognise that wealth acquires true value only when it reaches and benefits those who need it most," the Chief Minister observed.
