Andhra Pradesh secures Rs 25,000 crore investments at Vizag conference

The Andhra Pradesh government has attracted nearly Rs 25,000 crore in investments through its first regional conference at IIM-Visakhapatnam, held ahead of the 31st CII Partnership Summit in November.

The government signed 31 agreements across high-growth sectors, with the investments expected to create nearly 57,000 jobs, an official release said late on Wednesday.

“Signalling a major acceleration in the state’s industrial execution, the government of Andhra Pradesh (has) successfully concluded the first of five regional conferences at IIM-Visakhapatnam on Wednesday, securing investments and project groundings worth over Rs 25,000 crore,” it said.

Among the biggest industrial commitments were Himadri Speciality Chemical Ltd with Rs 5,000 crore, Oriana Power Limited with Rs 4,500 crore, Granules India Limited with Rs 4,000 crore, and ReNew Photovoltaics with Rs 1,500 crore.

The government also focused on projects that can be implemented immediately. A total of 33 active projects worth Rs 3,519 crore were “concurrently grounded or inaugurated on the spot”, unlocking 9,449 direct jobs across SIPB, tourism and MSME sectors, the release said.

The regional conference programme will cover five strategic economic zones and target the strengths of Kakinada, Amaravati, Ananthapuramu and Tirupati through October, it said.

The initiative is also part of the state’s longer-term economic plans under the Swarna Andhra Vision 2047. The vision targets a USD 2.4 trillion economy, USD 500 billion in investments and 50 lakh jobs, backed by 26 specialised industrial frameworks, it added.

The regional conferences are intended to act as a strategic launchpad for the upcoming 31st CII Partnership Summit, which is scheduled to be held on November 12 and 13 in Visakhapatnam.