Andhra inks MoUs worth Rs.4.67 crore during Partnership Summit

Andhra Pradesh has signed MoUs worth Rs.4.67 crore with various companies during the three-day CII Partnership Summit, which concluded here on Tuesday.

The state government inked 328 MoUs across all sectors. The investment is expected to create employment for about 10 lakh people.

Chief Minister N. Chandrababu Naidu said the response was beyond expectations. He announced that the coastal city will host the second consecutive Partnership Summit next year.

The maximum number of MoUs (115) were signed in industrial sector, envisaging investment of over Rs.2 lakh crore. With Rs.1.45 lakh crore investment, energy stands second among 13 sectors.

The state signed eight MoUs worth Rs.43,900 crore in infrastructure and four MoUs worth Rs.41,500 crore in housing sector.

"Sky is the limit to the leaders of the market, who have come forward to invest in the Sunrise state - Andhra Pradesh," said Naidu in his address at the valedictory session.

He reiterated the strategy for achieving inclusive growth for real upliftment of the marginalized sections.

"I was chief minister for 9 years and was the leader of opposition for 10 years. Now I am again the chief minister of Andhra Pradesh. My vast experience taught me to be keen on all parameters for inclusive growth that distributes the high growth being achieved equally to all sections of the society," he said.

Union Chemicals and Fertilizers Minister Ananth Kumar announced setting up of a National Institute of Pharmaceutical Education and Research (NIPER) in Visakhapatnam with an investment of Rs.600 crore and urged the state government to allocate 100 acres for it.

He also announced medical devices manufacturing park with a potential investment of Rs.20,000 crore in Andhra Pradesh.

"In the process of taking several steps to boost the domestic production of high end medical devices and pharmaceutical manufacturing equipment, we require medical devices manufacturing park in India. I have already announced a park in Gujarat and I am happy to announce another unit in Andhra Pradesh," he said.

The premier centre for plastic engineering - Central Institute of Plastics Engineering & Technology (CIPET), Vijayawada would be further expanded for higher courses. The intake of students will be increased from 200 students to 5,000. Ananth Kumar also said the central government had taken in-principle decision to set up petroleum complex in Andhra Pradesh. This will be developed by HPCL and GAIL.

Civil Aviation Minister P. Ashok Gajapathi Raju foresaw a sea-change in investment scenario in Andhra with the upcoming greenfield international airport at Bhogapuram.

Governor E.S.L. Narasimhan appreciated Naidu's proposal to hold Davos-type interface with stakeholders every year at Visakhapatnam under aegis of CII.