AP signs 46 MOUs bringing in 35745 Crore investments

Andhra Pradesh Chief Minister Chandrababu Naidu inaugurated Industrial Mission a short while ago in Vishakapatnam. Andhra Pradesh is going to sign up 46 MoUs with 46 companies from India as well as from countries like Japan, the UAE and Canada, attracting total (potential) investment worth Rs 35,745 crore. These MOUs will bring investments from petrochemicals to energy, infrastructure, electronics and manufacturing, food processing, textile and automobiles, with potential to generate 72,210 new jobs in the state.

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The Chief Minister also handed over the land allotment letters to Asian Paints (for Visakhapatnam unit), ONGC (for Kakinada facility), KRIBCO (for Nellore) and Kurlon (Chittoor) and promised all round help from the state government to investors coming in. The Chief Minister announced the investors to give all the required permissions with in 21 days with a single desk mechanism.

He set a whopping target of bringing in 2 Lakh Crore Investments to the state by 2020. He stressed on the very conducive climate for industries in the state with no unrest in labour or the people. Earlier Chandrababu Naidu skipped the unveiling of NTR Housing Project for rehabilitation of Hudhud victims to make it in time for the investors meet.