Reliance Industries signs MoU for Rs 50,000 crore with AP, to generate 10,000 jobs

VISAKHAPATNAM: In an unprecedented and historic achievement, the Andhra Pradesh Government, led by Chief Minister Y.S Jagan Mohan Reddy, signed 352 Memorandums of Understanding (MoUs) worth Rs 13.05 lakh crores during the two-day Global Investors Summit in Visakhapatnam. 260 MoUs worth over Rs 1.17 lakh crore were inked on Saturday in over 13 sectors.

World leaders and India Inc bet big on Andhra Pradesh as the ideal investment hub at the Global Investors’ Summit 2023

• 117 MoUs, the highest in the summit, were signed in the tourism sector promising an investment of Rs 22,096 crore that would help generate over 30,000 jobs.
• The energy sector saw 40 MoUs worth Rs 8,84,823 crores that will generate nearly 2 lakh jobs.
• The agriculture department saw 15 MoUs worth Rs 1160 crore.
• Animal Husbandry department signed 8 MoUs worth Rs 1020 crore that will generate an employment for 3750 people.

MAJOR INVESTORS

• Amongst the major investors are, Reliance that signed 1 MoU with an investment of Rs 50,000 crores which will generate employment for over 10,000 people.
• HPCL signed 1 MoU with an investment of Rs 14.3 crores which will generate employment for 1500 people.
• HCL Technologies signed 2 MoUs with an investment of Rs 22 crores which will generate employment for 5,000 people.
• Flipkart signed 2 MoUs with an investment of Rs 20 crores generating employment for 300 people.
• Earlier on Day 1, AP government signed 92 MoUs worth Rs 11,87,756 lakh crores. Here is the break-up:-
• The Energy Department attracted 35 investment proposals amounting to Rs 8.25 lakh crore and promising to generate 1.33 lakh employment.
• This was followed by Industries & Commerce sector that attracted around 41 proposals with an investment of Rs 3.2 lakh crore that will generate 1.79 lakh employment.
• The IT and ITES Department managed to get 6 proposals with investment of Rs 32,944 crores which will generate employment for 64,815 people.
• The Tourism Department managed to get 10 proposals with investment of Rs 8,718 crores which will generate employment for 13,400 people of the state.

Amongst the major investors on day one were

• The National Thermal Power Corporation (NTPC) that signed 3 MoUs with an investment of Rs 2,35,000 crore which will generate employment for 77,000 people.
• JSW Group signed 6 MoUs, the largest amongst the lot with an investment of Rs 50,632 crore which will generate employment for 9,500 people. Whereas ABC Limited as signed 1 MoU with an investment of Rs 1.20 lakh crore generating employment 7000 people of Andhra Pradesh.
• Aurobindo Group signed 5 MoU’s with an investment of Rs 10,365 crores which will generate employment for 5,250 people.
• Adani Green Energy has signed 2 MoUs with an investment of Rs 21,820 crores which will generate employment for 14,000 people.
• Aditya Birla Group signed 2 MoUs with an investment of Rs 9,300 crores which will generate employment for 2,850 people.
• Jindal Steel signed 1 MoU with an investment of Rs 7,500 crores which will generate employment for 2,500 people.

This historic achievement is a giant step towards Chief Minister YS Jagan’s overall vision for the state i.e. equitable development and prosperity of all sections of society. Chief Minister Jagan has proven in front of the whole world that he is a man of his words.