AP inks 734 MoUs for investments of Rs 4.39 lakh crore at CII partnership summit
Reliance Industries, Adani Group, Lulu Group and Google are among the corporate heavyweights which signed agreements for major investments in Andhra Pradesh.india Updated: Feb 26, 2018 18:31 IST
Andhra Pradesh chief minister N Chandrababu Naidu said on Monday that his government has signed 734 MoUs with business houses and individuals worth Rs 4.39 lakh crore for setting up of industries and launch start-ups which are expected to boost employment.
“The investment is expected to create 11 lakh jobs,” Naidu said at the conclusion of the three-day CII Partnership Summit in Visakhapatnam .
He also said he would personally monitor the progress of the projects and assured the investors that all clearances will be granted within 21 days. “If you have any problem you can bring it to my notice. I am only a call away,” he said.
Prominent among the big industrial houses that entered into agreements with the Andhra Pradesh government are Reliance, Adani Group, Lulu Group and Google. The Reliance Industries Limited (RIL) inked projects worth Rs 55,000 crore in solar energy, electronics and innovation hubs in the state while the United Arab Emirates-based Lulu Group signed a MoU to build a convention centre, hotel and shopping mall in Visakhapatnam. The Adani Group said it would invest Rs 9,000 crore including the development of a port at Bhavanapadu.
The chief minister showcased the new capital city Amaravati as a potential hub of new investments. “The capital work has commenced. It is going to be transformed into one of the best capital cities of the world. My objective is to make Andhra Pradesh as among the top three cities in the country by 2022 and the number one city by 2029. By 2050, it is going to be the most preferred destination of the world,” he said.
He said the bifurcation of combined state had thrown up several challenges before him, but he had converted these challenges into opportunities. “We never lost our confidence. Right from the day one, I have been confident of our potential to grow into the top states in the country,” he said.
Governor ESL Narasimhan, union minister for commence and industry Suresh Prabhu and others participated in the valedictory function.