AP govt inks 364 MoUs for Rs 2.18 lakh crore investment

The Andhra Pradesh government signed a total of 364 memoranda of understanding with various business establishments, including the likes of Reliance Industries Limited, that could result in an investment of Rs 2,18,814 crore and creation of 3,84,662 jobs.
Reliance Industries Limited alone promised to invest Rs 52,000 crore in oil and gas and electronics manufacturing ventures in AP.
These MoUs were signed in the first two days of the ongoing three-day Partnership Summit at the Harbour Park here, State Industries Minister N Amarnath Reddy said.
The energy sector netted the highest investment proposals worth Rs 1,11,921 crore from 34 MoUs, the minister told reporters this evening.

About 22 MoUs were signed for an investment of Rs 39,281 crore in the industries, information technology and electronics sectors while 10 MoUs were signed for an investment of Rs 9,406 crore in the aerospace and defence sectors, Amarnath Reddy said.
On the second day of the Summit today, a total of 285 MoUs were signed that could fetch an investment of Rs 1,74,568 crore and provide employment opportunity to 2,86,371 persons, he added.
On the first day, 79 MoUs were signed to attract an investment of Rs 44,246 crore, including 15 MoUs in automotive sector for an investment of Rs 15,224 crore, the minister said.