Andhra Pradesh inks MoUs for Rs 13 lakh crore during 2-day GIS

VISAKHAPATNAM: Andhra Pradesh entered into 352 memoranda of understanding (MoUs) with various organisations to execute projects worth Rs 13.05 lakh crore during the two-day Global Investors Summit (GIS), which concluded in Visakhapatnam on Saturday.
These 352 MoUs have a potential of generating 6 lakh jobs, officials said. The second day proceedings witnessed 260 MoUs for Rs 1.17 lakh crore worth projects. About 10,000 dignitaries and investors from across India and nearly 40 other countries attended the two-day summit, according to officials.
Energy department, particularly the renewable energy sector, managed to bag Rs 9 lakh crore investments, followed by industries department (Rs 3.35 lakh crore). The MoUs in the energy space, if turned into reality, may offer 1.87 lakh new jobs. Agriculture and animal husbandry departments garnered over Rs 1,000 crore investment proposals each. As many as 117 MoUs were made in the tourism sphere worth Rs 22,096 crore, with a proposed potential of creating 30,000 jobs.
Reliance signed an MoU for an investment of Rs 50,000 crore on Saturday. HPCL Energy will invest Rs 14.3 crore, as per the agreement that it signed with the government. HCL Technologies executed two MoUs for Rs 22 crore worth proposals with a potential of 5,000 jobs. Flipkart signed two MoUs for investing Rs 20 crore.
Earlier, on day one of the summit on Friday, the state government entered into 92 MoUs worth Rs 11.9 crore with different organisations. The National Thermal Power Corporation (NTPC) signed three MoUs for investing about Rs 2,35,000 crore. This mega investment will generate employment for about 77,000 people.
Addressing the summit on Saturday, chief minister YS Jagan Mohan Reddy said the state government will make sure the investments flourish.
Industries minister G Amarnath claimed the presence of the international community at the summit clearly reflected the state’s global connection. “While supporting larger anchor investments, the government will also provide support to the MSME sector as it is crucial for economic growth and employment,” he added.