Andhra govt inks 35 deals worth Rs 3.65 lakh cr ahead of CII Partnership Summit

Visakhapatnam, Nov 13 (PTI) The Andhra Pradesh government on Thursday signed 35 agreements with various companies, securing investments worth Rs 3.65 lakh crore and the potential to create 1.26 lakh jobs.

The deals were finalised ahead of the 30th CII Partnership Summit scheduled in the port city of Visakhapatnam on November 14 and 15.

“In one day alone (Thursday), the state government inked 35 Memoranda of Understanding (MoU) in the presence of the Chief Minister…Companies came forward to invest Rs 3.65 lakh crore and employ 1.26 lakh people on the eve of the Partnership Summit,” said an official press release.

Chief Minister N Chandrababu Naidu participated in up to 15 meetings today, and said he will strive to make Andhra Pradesh the number one state to attract investments.

Beginning with the ‘Partners in Progress – India – Europe Cooperation for Sustainable Growth’ roundtable meeting, Naidu attended CII National Council special meeting and Vizag Economic Region event.

Addressing the India – Europe roundtable meeting, Naidu invited European countries and businessmen to leverage the state’s advantages, describing the state as a gateway to enter the global market.

Besides interacting with several businessmen and industrialists, he also met with the Ambassadors of Italy and Taiwan and also the Flag Officer Commanding-in-Chief of Indian Navy’s Eastern Naval Command (ENC).

“Delighted to meet H.E. Antonio Enrico Bartoli, Ambassador of Italy to India and Nepal…We discussed key sectors for collaboration between Andhra Pradesh and Italy, including automotive and auto components, machinery, manufacturing, energy, fashion, and food processing,” said Naidu in a post on X.

The TDP supremo invited Italian companies to explore partnerships in agri-machinery, renewable energy and also deliberated on the possibility of developing an Italian Industrial Cluster in Andhra Pradesh to strengthen long-term trade and investment ties.

Likewise, Naidu requested the Taiwanese Ambassador to facilitate investments from Taiwan companies in Andhra Pradesh.

Top investment commitments included Rs 1.1 lakh crore by ABC Cleantech & Axis Energy Ventures India Pvt Ltd, Rs 60,000 crore by ReNew Energy Global Plc to set up green energy projects, Rs 18,000 crore by eJoule India JV and others.

According to Axis Energy Ventures India Pvt Ltd chief executive Sri Murali, the Rs 1.1 lakh crore investment will generate 13,500 jobs, followed by Taiwan’s Allegiance Group (50,000 direct and indirect jobs) and others.

Reacting to the investment commitments, Naidu said, “It is heartening to see investments of this magnitude even before the CII Summit begins… National and global companies like Google, ArcelorMittal, and BPCL are showing interest in establishing industries here.” According to the CM, Andhra is developing rapidly and the goal is to make it the frontrunner in attracting investments.

He highlighted that green energy sector offers vast potential in Andhra Pradesh and the state’s energy policy is delivering strong results, drawing large-scale investments in the sector.

With a 1,000-km coastline, the CM said Andhra Pradesh is poised to become the logistics hub of India through its ports, road, and rail network.

There are opportunities across all sectors — horticulture, agriculture, aquaculture, and food processing, including space city, drone city, and electronic city projects and added that mineral wealth abounds in the state.

Later, Naidu released a report on Developing Visakhapatnam Economic Region as a global economic hub and appointed industries secretary as the chief executive of Visakha Economic Region Development, among other initiatives.

Over the two-day Partnership Summit, Andhra Pradesh aims to attract investments worth Rs 10 lakh crore.

Vice President CP Radhakrishnan will inaugurate the summit on Friday. He will arrive at INS Dega Airbase around 8 am, participate in the inaugural session of the 30th CII Partnership Summit as the chief guest and return to New Delhi around 11 am. PTI STH ROH