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Andhra signs Rs 31,546 cr MoUs on first day of Partnership Summit


The Andhra Pradesh government signed MoUs worth Rs.31,546 crore investment with various companies on the first day of CII Partnership Summit here on Saturday, officials said.

A total of 77 MoUs were signed which were expected to generate employment for 98,291 people.

The MoUs include Rs 4,000 crore investment planned by Adani Ports and SEZ Limited to develop Greenfield port at Bhavanapadu.

In the automotive sector, 14 MoUs were signed entailing an investment of Rs 14,124 crore. This investment is expected to generate 47,368 jobs.

As many as 56 MoUs, envisaging an investment of Rs.7,807 crore were inked in the tourism sector.

The first day of the three-day event also saw signing of four MoUs in industries sector, proposing investment of Rs 3,015 crore.

In the automotive sector, Mytrah Mobility signed Rs 7,000 crore MoU for electric vehicles. Synergy Castings plans to invest Rs 1,020 crore in a facility to manufacture aluminium alloy wheels.

JBM Group proposes to invest Rs 2,650 crore in electrical mobility, solar power generation and auto components. Sun Mobility intends to invest Rs 1,670 crore in interoperable EV charging/swapping infrastructure in partnership with Ashok Leyland.

The Summit is expected to see signing of at least 281 MoUs, envisaging investments of over Rs 2.56 lakh crore with a potential to create employment for 4.25 lakh people.

This is the third year in a row that Andhra Pradesh is organising the summit in partnership with the Central government and the Confederation of Indian Industry (CII).

Chief Minister N. Chandrababu Naidu said on Saturday that during the last three years, as many as 1,946 MoUs were signed involving a commitment of Rs 13.54 lakh crore investments and 31 lakh jobs.

“Out of theme, 1,153 projects with committed investment of Rs 5.69 lakh crore and committed employment of 11.1 lakh have either gone to production or in advanced stage. This conversion rate of 59 percent is highest in the country,” he said.

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Stage set for Partnership Summit in Vizag


The CII Partnership Summit 2018, beginning here on Saturday, is expected to witness signing of MoUs involving over Rs 2.50 lakh crore of investment in Andhra Pradesh, officials said.

At the three-day annual event, Andhra Pradesh is hoping to sign over 280 MoUs with companies in various sectors. This is expected to generate employment for 4.25 lakh people.

To be inaugurated by Vice President M. Venkaiah Naidu, the summit with the theme ‘Charting new India’s global integration strategy’ will be attended by several Union Ministers and 2,000 delegates from India and abroad.

Union Commerce and Industry Ministry Suresh Prabh will be the chair of the summit, being organised by the state government in partnership with hjis ministry’s Department of Industrial Policy and Promotion (DIPP) and Confederation of Indian Industry (CII).

Chief Minister N. Chandrababu Naidu will meet top business leaders on the sidelines of the event.

There will be sessions on sectors such as automobile, tourism, aerospace & defense, textiles, renewable energy, food processing, medical equipment and electronics.

There will be special plenary session on ‘Technologies for tomorrow’.

This is the third consecutive year that Andhra Pradesh is hosting the summit and it is being held at a time when the Telugu Desam Party (TDP) government of the state is virtually on a warpath with its ally BJP, which is heading the ruling coalition at the Centre for not fulfilling the commitments.

Chandrababu Naidu is continuing the pressure on BJP-led NDA to fulfil commitments made at the time of bifurcation of Andhra Pradesh to carve out separate Telangana state in 2014.

He is miffed with Prime Minister Narendra Modi for not doing justice to the state during last three-and-half years. The TDP is gearing up to further mount the pressure on BJP during the second leg of budget session, beginning on March 5.

Alleging that Andhra Pradesh suffered huge loss due to division, the TDP chief is demanding that the Centre do the handholding to the residuary state till it comes up to be at par with other southern states.

In the first Partnership Summit held in 2016, MoUs involving investment worth Rs 4.68 lakh crore were signed. The projects, if realised, would create 9.59 lakh jobs. Last year’s edition saw MoUs worth Rs 1.90 lakh crore were signed and the expected jobs were 3.58 lakh.

The state government claims the MoUs are in various stage of implementation.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.



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