In addition, Union Minister of Road Transport and Highways Nitin Gadkari sanctioned the construction of a six-lane beach road connecting Vizag Port and NH 16 at Bhogapuram. “The length is 55 km and the cost is Rs 6300 crore. The state is going to give me land and some concessions. I have spoken to the Chief Minister and the Chief Secretary and they have given me a rental letter and a 157 acre multi modal logistic park,” said Gadkari while addressing the summit.
The Chief Minister made a strong pitch for investment in Andhra Pradesh in the presence of industry captains like Mukesh Ambani, Naveen Jindal, GM Rao and Karan Adani, who all promised to invest in the state. This was the very first investor summit hosted by the current state government since YSRCP came to power in 2019.
Reddy said: “It is a proud moment to announce that we have received 340 investment proposals worth Rs 13 lakh crore providing employment to 6 lakh people across 20 sectors. As of today, we will execute 92 MoUs with Rs11 lakh crore being invested and the remaining will be executed tomorrow.”
The two-day long summit is being held at the sprawling sports grounds of Andhra University and boasts of 200 stalls showcasing the various advantages of investing in Andhra Pradesh in 13 crucial sectors identified by the government.
Reddy harped on the state’s abundant natural resources, mineral wealth, a 974 km coastline and its robust infrastructure with six operating ports and four more ports under development. The state has six airports of which three are international ones while the three industrial corridors are being developed in AP, housing a total of ten industrial nodes.
Assuring the investors about availability of land for their projects especially in renewable energy sector Reddy said: “We have also identified and set aside dedicated land parcels for wind, solar and pumped storage projects.
“The state was also developing 4 new ports at Ramayapatnam, Machilipatnam, Bhavanapadu and Kakinada, in addition to the six operational ones. He claimed that the abundant land available in close proximity to these ports would propel port led industrialization.
Mukesh Ambani of Reliance Industries Limited announced that his group was creating the largest and the best digital network footprint in the state by investing over Rs 40,000 crore.
“True 5g will be completed before the end of 2023 throughout India including the state of Andhra Pradesh,” he added.GM Rao of GMR group developing the green field airport at Bhogapuram in Visakhapatnam with an investment of Rs 5000 crore in the first phase said they will replicate the success of Hyderabad airport and transform Vizag city.
Karan Adani of Adani Group said apart from partnering AP government in developing two ports they are committed to invest in renewable energy while Ambuja and Adani cements will set up two plants in the state.
Reassuring the business community, the Chief Minister said: “I once again assure you that we are only a phone call away, whenever you need us for anything whatsoever in supporting your business. It is our commitment to facilitate the most conducive business ecosystem in the State.” He iterated that Vizag will be the state’s executive capital and he will be shifting soon.
