Global Investors Summit 2023: Andhra Pradesh signs 92 MoUs worth Rs 11,87,756 lakh crores on day
The investment is likely to create over 6 lakh jobs in Andhra Pradesh across 20 sectors
- Andhra Pradesh
NewsTAP Bureau- Updated On:4 March 2023 1:34 PM GMT
VISAKHAPATNAM: A total of 92 Memorandums of Understanding (MoUs), worth Rs 11,87,756 crore, were signed, generating 3.92 lakh jobs in the state on the first day of the Global Investors Summit 2023.
The Energy Department attracted 35 investment proposals with a total investment of Rs 8.25 lakh crore, generating 1.33 lakh jobs. followed by Industries & Commerce, which attracted around 41 proposals with an investment of Rs 3.20 lakh crore that would generate 1.79 lakh jobs. The IT and ITES Department managed to get six proposals with an investment of Rs 32,944 crore, which would generate employment for 64,815 people.
The tourism department managed to get 10 proposals with an investment of Rs 8,718 crore, which would generate employment for 13,400 people in the state.
Among the major investors is the National Thermal Power Corporation (NTPC), which has signed three memoranda of understanding with an investment of Rs 2,35,000 crore that would generate employment for 77,000 people.
JSW Group signed six MoUs, the largest among the lot with an investment of Rs 50,632 crore, which will generate employment for 9,500 people. Whereas ABC Limited has signed a memorandum of understanding with an investment of Rs 1.20 lakh crore, generating employment for 7,000 people in Andhra Pradesh.
Aurobindo Group signed five MoUs with an investment of Rs 10,365 crore, which would generate employment for 5,250 people. Adani Green Energy has signed two memorandums of understanding with an investment of Rs 21,820 crore, which would generate employment for 14,000 people. Aditya Birla Group has signed 2 MoUs with an investment of Rs 9,300 crores which would generate employment for 2,850 people. Jindal Steel has signed an MoU with an investment of Rs 7,500 crore, which will generate employment for 2,500 people.
On the first day, a total of 64 companies signed MoUs with the Andhra Pradesh government, which can be called a mega success of this investment drive by the Chief Minister, Y.S. Jagan Mohan Reddy.
The investment drives that were started in Delhi and followed by Bangalore, Chennai, Mumbai, and Hyderabad culminated in grand success at the Vishakhapatnam summit. There were many more proposals to be signed on the second day of the summit.
The sprawling sports grounds of Andhra University is hosting the two-day meet, where about 200 stalls have been set up, including over 30 showcasing the various advantages of investing in Andhra Pradesh in 13 crucial sectors identified by the government.
The venue consists of five massive halls and each hall would host different events such as government-to-business (G2B) meetings, seminars, and meetings. Over 8,000 dignitaries and investors from across India and 40 other countries including China and USA are attending the event.
