Lokesh Seeks Canadian Investments In AP’s Tourism, Green Energy, AI & Infrastructure
Meeting Prem Watsa, CEO of Fairfax Financial Holdings, Lokesh sought support for expediting the Kuppam greenfield airport, and invited the company to invest in AP’s tourism and hospitality sectors.
VIJAYAWADA: IT and electronics minister Nara Lokesh held a series of meetings with Canadian industry leaders, pension fund executives, technology heads and business representatives on the fifth day of his US-Canada tour.
Meeting Prem Watsa, CEO of Fairfax Financial Holdings, Lokesh sought support for expediting the Kuppam greenfield airport, and invited the company to invest in AP’s tourism and hospitality sectors. He proposed Fairfax subsidiary Sterling Resorts to examine the possibility of undertaking a large-scale resort project in Nallamala, modelled on Panama City in Florida, to boost eco-tourism.
Watsa said Fairfax, valued at 30 billion and operating across multiple continents, has invested in Bengaluru International Airport, the national stock exchange and Sanmar Chemicals. He promised to examine AP’s proposals.
Lokesh met Tim Downing of the Canada Pension Plan Investment Board and highlighted AP’s vast solar and wind energy potential. He said the government aimed to transform the state into a renewable energy hub.
The minister urged the oard to explore investments in green energy projects, ports, logistics and coastal infrastructure, toll roads and transport networks and urban development in Amaravati. He also briefed the board on AP’s newly formed Master Funds to attract institutional investors.
Downing said the board managed `700 billion in assets globally with investments in 65 countries. He promised to consider Lokesh’s proposals.
In a meeting with John Radko, senior vice president of OpenText, Lokesh sought investments in AI, quantum computing and enterprise information management systems. He requested OpenText to launch skill development and internship programmes for AP’s youth. Radko said the company, with strong operations in India, is extending its “AI-first” cloud and automation solutions into Tier-2 cities and would study AP’s proposals.
The IT minister also met Kapidhwaj Pratap Singh, India’s consul general in Toronto, and representatives of the Canada–India business council. He said Andhra Pradesh has become India’s top industry-friendly state with 21-day single-window clearances and `23.5 lakh crore investments in the last 18 months.
The consul general noted that India–Canada trade has reached `30.9 billion and Canada is prioritising cooperation in clean energy, food processing, supply chains, AI, IoT, ports, roads and airports. He promised his support for AP’s growth.
In his meeting with Victor Thomas, CIBC president, Lokesh showcased AP’s emergence as a hub for AI and quantum tech, and referenced Google’s recent `15 million investment in an AI hub and data centre in Visakhapatnam. Thomas promised continued support to promote Canadian investments in Andhra Pradesh.
