AP attracts investment proposals worth Rs 32.49 lakh crore since June 2024: CM Naidu
Addressing a media conference on the concluding day of the two-day CII Partnership Summit here, Naidu said 714 projects involving proposed investments of Rs 22.60 lakh crore had been received before the latest summit, with an estimated employment potential of 19.3 lakh jobs.
Of these, the government had approved land allocation and incentives for 526 projects involving investments of Rs 17.10 lakh crore, which could generate 12.9 lakh jobs.
As many as 303 projects involving Rs 7.30 lakh crore had reached the construction or construction-ready stage, with the potential to provide employment to 7.7 lakh people, he said.
The Chief Minister said the government had conducted 11 investment roadshows in five countries and six Indian cities ahead of the summit to attract investors.
It had also organised sector-specific regional conferences focusing on artificial intelligence and data centres in Visakhapatnam, marine-based industries in Kakinada, quantum technology in Amaravati, defence in Anantapur and electronics in Tirupati.
These regional conferences, held between October 7 and 26, secured 194 investment agreements worth Rs 86,522 crore, with the potential to generate 1,47,951 jobs, he said.
The main CII Partnership Summit, held in Visakhapatnam on November 12 and 13, resulted in 109 agreements involving investments of Rs 9,02,434 crore and an estimated employment potential of 2,00,358 jobs, he informed.
Together, the regional conferences and the main summit secured 303 fresh agreements worth nearly Rs 9.89 lakh crore, with the potential to create 3,48,309 jobs, Naidu said.
Highlighting major industrial expansion plans, he said Kia Motors had proposed an investment of Rs 18,878 crore to increase the annual production capacity of its Penukonda plant by two lakh vehicles. The expansion was expected to generate an additional 12,000 jobs.
Naidu said the government was pursuing a region-wise and sector-specific investment strategy to accelerate industrial development, attract large-scale investments and create employment opportunities across Andhra Pradesh.
