Industrial giants, including several global groups, announced plans to invest in Andhra Pradesh on the first day of the GIS.
AP CM YS Jagan with Mukesh Ambani. (AndhraPradeshCM/Twitter)
At the inauguration of the first-ever Andhra Pradesh Global Investors Summit (GIS) held in Visakhapatnam, Chief Minister YS Jagan Mohan Reddy announced on Friday, 3 March, that the state received investment proposals worth ₹13 lakh crore with an employment opportunity for six lakh people.
Jagan Mohan Reddy said the investment proposals were from Reliance, Adani Group, Aditya Birla Group, ReNew power, NTPC, and the Aurobindo Group, among others.
He also said that he would be moving to the port city which is all set to be the executive capital of the state.
Industrial giants including several international groups, announced plans to invest in Andhra Pradesh on the first day of the inaugural edition of the GIS.
Here’s a look at the big-ticket investment promises.
https://twitter.com/Advantage_APGov/status/1631644324495781891
Chairman and Managing Director of Reliance Industries Ltd Mukesh Ambani announced plans for setting up a 10-gigawatt solar plant in Andhra Pradesh as his oil-to-telecom conglomerate bets big on renewable sources which can be converted into carbon-free green hydrogen.
Ambani said his group is investing ₹40,000 crore for the rollout of an ultra-high speed 5G telephony network in the state.
“This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatt of renewable solar energy in the state of Andhra Pradesh,” he said without giving investment details.
Ambani also said his company has invested more than ₹1.5 lakh crore in developing oil and gas discoveries it made off the Andhra coast and in supporting gas pipeline infrastructure to transport the fuel to consumers.
Gas from Reliance’s KG-D6 block in the Bay of Bengal contributes nearly 30 percent of all gas production in the country, he said. “This is just an example of how important Andhra is to the India story. And how deeply Reliance is invested in the Andhra story.”
https://twitter.com/Advantage_APGov/status/1631554555023605760
Reliance Jio, the group’s telecom arm, is rolling out what it called a ‘True 5G’ network.
“We are creating the largest and the best digital network footprint in the state by investing over ₹40,000 crore. Our 4G network covers 98 percent of Andhra Pradesh’s population, including those living in the remotest corners of the state.
“The rollout of Jio’s True 5G will be completed before the end of 2023 throughout India, including your state of Andhra Pradesh,” he said.
Similarly, its retail arm has partnered with more than 1.2 lakh kirana merchants across 6,000 villages of Andhra Pradesh. “Reliance Retail will source significantly more agri and agro-based products and manufactured goods from Andhra Pradesh for sale all over India,” he said.
“I would like to assure you that Reliance will continue to be an unflinching partner to the people and the Government of Andhra Pradesh in your state’s all-around accelerated progress,” he added.
The Adani group will set up two new cement manufacturing plants, 15,000 MW of renewable power projects, and a data center in Andhra Pradesh as it looks to double down on its presence in the state, said Karan Adani, founder family’s scion.
The group plans to double the capacity of the two seaports it operates at Krishnapatnam and Gangavaram in the state, he added.
The investments will be on top of the ₹20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs.
He said the group will set up cement plants with a total capacity of 10 million tonnes per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam.
https://twitter.com/Advantage_APGov/status/1631553958731993089
The group is also developing 15,000 MW of renewable power projects over the next few years across five districts of Anantapur, Kadapa, Kurnool, Visakhapatnam, and Vizianagaram.
“Our other investments in the state include cement manufacturing units and data centres. Presently we do not have any cement manufacturing capacity in Andhra Pradesh. Hence, as part of our expansion plans, we will be setting up cement plants in Kadapa and Nadikudi with a total capacity of 10 million tonnes per annum,” he said.
Turning to CSR work being done by Adani Foundation, he said “our footprint in the state of Andhra Pradesh is getting bigger as I speak on this occasion.”
“We are investing in education, healthcare, nutrition, access to potable water, sports and building an ecosystem of skilling and sustainable livelihood in the state. Our teams are executing programs in Nellore, Tirupati, and Visakhapatnam districts. At present, we have invested over ₹4200 crore and are touching over 180,000 lives and counting, in the state,” he added.
Jindal Steel & Power Limited will be investing ₹10,000 crore for setting up a 3 mn tonne per annum steel plant near Krishnapatnam in Andhra Pradesh, its chairman Naveen Jindal said.
This will lead to the creation of 10,000 jobs, he said.
Jindal further said the group will be signing an MoU with the Andhra Pradesh government for investing in renewable energy across solar, wind and hydro as well expanding the capacity of its existing cement plant.
The group will also invest in a port and build a slurry pipeline and an MSME park in the state.
Naveen Jindal: We are working on setting up a 3 million tonne steel plant near Krishnapatnam by investing over Rs 10,000 crores. Over 10,000 people will be getting employment here either directly or indirectly and today we are also going to be signing an MOU for the same. pic.twitter.com/roLz78MI9y
— CMO Andhra Pradesh (@AndhraPradeshCM) March 3, 2023
Avaada group — an energy sector company focused on solar energy and other renewable energy resources — signed an MoU with the Andhra Pradesh government worth ₹50,000 crore which is expected to provide employment for 7,300 people.
https://twitter.com/Advantage_APGov/status/1631565655052009472
Shree Cements signed an MoU worth ₹5,500 crore providing employment for 1,000 people.
INDOSOL — a subsidiary of Zuellig Group from South Korea —signed an MoU worth ₹76,033 crores providing employment for 13,200 people.
https://twitter.com/Advantage_APGov/status/1631565295142985729
ReNew Power — a renewable energy company based in Gurugram in Haryana — signed an MoU worth ₹97,500 crores providing a boost to the renewable energy sector and employment for 16,550 people.
https://twitter.com/Advantage_APGov/status/1631561809592451072
Oberoi Group signed an MoU worth ₹1,350 crore providing employment for 1,350 people.
Day 1 of the Global Investment Summit 2023, saw a total of 92 MoUs signed. These were worth ₹11,87,756 crore, with the potential to generate 3.92 lakh jobs.
Here’s a sector wise break up:
A total of 64 companies signed MoUs with the government on Day 1. Below is the list of major investors:
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