AP signs 11 MoUs worth Rs 1.40 lakh crore on concluding day of CII Summit
The State Government also issued a Government Order for the expansion of Hindalco Industries Limited in the chemicals and petrochemicals sector under the jurisdiction of APIIC, involving an investment of Rs 880 crore and expected to generate 447 jobs.
Among the major agreements, JSW Steel proposed an investment of Rs 15,000 crore in the manufacturing sector, with an employment potential of 2,500 jobs. Greenzone Renewable Energy Private Limited and Indian Oil Corporation Limited (IOCL) proposed investments of Rs 8,000 crore and Rs 6,600 crore respectively in the renewable energy sector, expected to generate 200 and 800 jobs.
In the aerospace and defence sector, Agnikul Cosmos Private Limited and Hathor Rockets Private Limited signed MoUs involving investments of Rs 510 crore and Rs 250 crore, with employment potential of 350 and 200 jobs respectively.
Kakinada Seaports Limited proposed an investment of Rs 6,452 crore in the ports, shipbuilding and maritime sector, generating 852 jobs, while EIH Limited proposed an investment of Rs 175 crore for a project under the jurisdiction of APCRDA, creating 150 jobs.
As part of the P4 initiative, Hero MotoCorp signed an MoU to provide scholarships worth Rs 32.8 crore to 720 IIT students, while ITC Limited agreed to support the development of 100 villages, including 15 model villages.
Addressing industrialists, Naidu urged investors to focus on grounding the projects and ensuring their timely implementation rather than limiting themselves to signing agreements.
The State Government would extend all necessary support to industries, he assured.
He thanked Hero MotoCorp for extending financial assistance to students through the Brij Mohan Lall Munjal Scholarship and ITC for supporting the P4 initiative under its corporate social responsibility programme.
Naidu said assistance had been extended to 25,000 Bangaru Kutumbalu (Golden Families) under the P4 initiative and stressed the need to create opportunities for underprivileged sections to improve their living standards.
The Chief Minister said the State Government had earmarked 5,000 acres near Tirupati for the space sector, noting that the region offered favourable conditions for space and defence industries.
Andhra Pradesh also had significant investment opportunities in emerging sectors such as semiconductors, artificial intelligence, quantum technology and aerospace, he added.
Calling upon premier educational institutions, including IITs, to use Andhra Pradesh as a laboratory for research and development, he urged them to promote innovation and new discoveries.
Emphasising that wealth creation should go hand in hand with improving the living standards of the poor, Naidu said education, healthcare and the economic and social conditions of underprivileged communities needed to be strengthened.
Referring to a recent report by O.P. Jindal Global University, he said Andhra Pradesh had secured the second position in the country in the Access to Equality Index and was among the leading States in providing economic and social security despite economic challenges.
Citing the example of a woman working in a brick kiln in Kuppam who received support from TVS Company, he said she had transformed herself from a worker into an entrepreneur with the company’s assistance and was now providing livelihoods to 20 others.
“We must recognise that wealth acquires true value only when it reaches and benefits those who need it most,” he observed.
TNT KM
