Chief Minister Chandrababu Naidu stepped up global investment outreach with a strong pitch for green energy, fintech, heavy industry, artificial intelligence and tourism, holding a series of high-level meetings with global business leaders.
Published Jan 22, 2026 | 9:06 AM ⚊ Updated Jan 22, 2026 | 9:06 AM
N Lokesh, Aditya Mittal, Lakshmi Mittal and N Chandrababu Naidu at AP Lounge in Davos.
Synopsis: Andhra Pradesh Chief Minister N Chandrababu Naidu used Day 3 of the World Economic Forum in Davos to push investments across clean energy, steel, fintech and tourism, announcing that the foundation stone for a steel plant in Anakapalli, with an initial investment of about ₹60,000 crore, would be laid soon. Holding a series of meetings with global business leaders, Naidu said his government was fast-tracking approvals, monitoring proposals in real time and pitching the state as an industry-friendly destination.
Andhra Pradesh Chief Minister N Chandrababu Naidu on Wednesday, 21 January, met ArcelorMittal Executive Chairman Lakshmi Mittal at the AP Lounge in Davos during the World Economic Forum to review progress on the proposed steel plant in Anakapalli district.
The Chief Minister said the foundation stone for the ArcelorMittal Nippon Steel plant would be laid after 15 February, with an initial investment of about ₹60,000 crore.
Holding an on-the-spot review with officials in Mittal’s presence on Day 3 of the WEF, Naidu directed that all land acquisition and regulatory approvals be completed before the foundation ceremony.
“There should be no delay from the government side. If required, ministers should go to Delhi and secure all clearances from the Centre expeditiously,” he said, assigning coordination responsibilities to Ministers Nara Lokesh and TG Bharat.
ArcelorMittal CEO Aditya Mittal acknowledged Lokesh’s constant monitoring and proactive support in facilitating approvals. Naidu also briefed Mittal on broader investment opportunities across sectors in Andhra Pradesh.
Ministers, including Lokesh and Bharat, and senior officials attended the meeting.
The Chief Minister stepped up global investment outreach with a strong pitch for green energy, fintech, heavy industry, artificial intelligence and tourism, holding a series of high-level meetings with global business leaders.
Naid said the forum was not only a platform to attract investments but also a window into emerging global trade trends, underlining his government’s focus on branding Andhra Pradesh as an industry-friendly destination.
“We are giving top priority to investments and industrialisation, with speed of doing business at the core of our governance,” he said.
Interacting with international media representatives, the Chief Minister said permissions were being granted swiftly and investment proposals monitored in real time.
He highlighted incentives such as escrow account mechanisms to ensure investor confidence and said IT Minister Nara Lokesh played a key role in bringing Google’s AI data centre to Visakhapatnam through sustained follow-up.
As part of the clean energy push, IT and Education Minister Nara Lokesh met JERA Global CEO and Chair Yukio Kani, urging the Japanese energy major to invest in green ammonia production facilities in Andhra Pradesh.
Lokesh proposed leveraging port infrastructure at Mulapeta, Krishnapatnam and Kakinada to export low-carbon ammonia to Japan and other Asian markets.
He also invited JERA to develop large-scale solar and wind hybrid projects in Rayalaseema to supply reliable clean energy to industrial consumers, with future potential for ammonia-enabled power generation.
Lokesh suggested the creation of integrated clean energy platforms around port-led industrial nodes such as Visakhapatnam, Kakinada and Krishnapatnam, where renewable energy, LNG or low-carbon ammonia infrastructure and manufacturing could be co-located.
To reduce emissions while maintaining grid reliability, the Minister proposed pilot ammonia co-firing projects at thermal power plants, in partnership with APGENCO and NTPC.
Responding, Kani said JERA was actively developing green hydrogen and green ammonia value chains in India to support Japan’s future clean energy imports.
He noted JERA’s partnership with ReNew Energy Global in utility-scale renewable power generation and its focus on LNG-based transition power and grid-balancing solutions, and said the company would examine the Andhra Pradesh government’s proposals.
Minister Lokesh also met Zerodha founder Nikhil Kamath, inviting the fintech major to set up a technology development centre in Visakhapatnam focusing on platform engineering, backend systems, trading algorithms, data analytics and fintech R&D.
He suggested that Zerodha partner with the Ratan Tata Innovation Hub as a lead mentor to nurture fintech startups and strengthen the State’s entrepreneurship ecosystem.
Lokesh further proposed collaboration with the Andhra Pradesh government to design and implement India’s first statewide financial literacy programme, from school to college level, delivered through multiple channels. Kamath said Zerodha would study the proposals.
Tourism and hospitality emerged as another major focus, with Tamara Leisure Hospitality founder and executive chairperson Shruti Shibulal meeting the Chief Minister to discuss investment opportunities.
Naidu said Andhra Pradesh had “unlocked” tourism by granting industry status to tourism projects and improving road and airport connectivity to key destinations.
He highlighted the potential for river cruise tourism along the Godavari from Polavaram to Bhadrachalam, besides destinations such as Konaseema, Gandikota, Araku and Lambasingi.
“Tourism can transform the economy and generate large-scale employment. From North Andhra to Rayalaseema, every district has tourism potential,” he said, assuring government support for hotel and hospitality projects.
Tamara representatives expressed interest in developing eco-tourism parks in tribal areas and homestay projects in Visakhapatnam and other regions. They also offered to train tribal youth for jobs in the hospitality sector under a “community-first” approach.
In another key meeting, Calibo AI Academy founder and executive chairman Raj Vattikuti and CEO Scott Sandschafer met the Chief Minister, who invited Calibo to establish a Centre of Excellence at the IT SEZ in Madhurawada, Visakhapatnam, and to collaborate with State universities to train youth in artificial intelligence.
Calibo informed Naidu that AI training programmes had already begun for youth at a private university in Amaravati with support from the Vattikuti Foundation.
