Adani Green to invest Rs. 60K cr in AP

Vijayawada: In a shot in the arm to promote renewable power, Adani Green Energy has agreed to invest Rs 60,000 crore in Andhra Pradesh.

An agreement to this effect was signed at the World Economic Forum at Davos. The initiative includes 3,700 MW hydro storage project and 10,000 MW solar energy project. The MoU was signed in the presence of Chief Minister YS Jagan Mohan Reddy and Adani Group Chairman Goutam Adani at the AP Pavilion.

The MoU was inked by Special Chief Secretary Karikal Valaven on behalf of the State and Ashish Rajvamshi for Adani Group. The group has already acquired the Krishnapatnam and Gangavaram ports and acquired land to establish a data park in Visakhapatnam.

The two power projects will provide an employment opportunity to about 10,000 people directly and indirectly. The erstwhile TDP Government had signed an MoU for investment of about Rs 70,0000 crore in AP in 2019 but the projects envisaged did not materialise. The investment for data park in Visakhapatnam was downsized subsequently.

Talks with corporates

Heads of various corporates met Chief Minister YS Jagan Mohan Reddy to explore trade opportunities in the State in shipping and logistics and to set up a bio ethanol plant being agreed upon on the second day of WEF.

Captains of Tech Mahindra, Dassault Systems, Mitsui OSK Lines and Hero Group met the Chief Minister at the AP Pavilion and held discussions. Tech Mahindra CEO and MD, CP Gurnani said his company will be working with AP Government in the field of skill development. The Chief Minister told him that the government was keen to develop Visakhapatnam as a technology hub with focus on AI and sought investments.

"In three months, we will be working with Andhra University in drafting a syllabus for high-end technology for skill development," Gurnani said. The Chief Minister said that besides a Skill University, 30 skill colleges and 175 skill hubs would be coming up in the State. Tech Mahindra subsidiary Assago Industries Pvt Ltd. said it will set up a Rs 250-crore ethanol manufacturing unit in the State.

Executive Vice President of Dassault Systems Florence Verzelen also interacted with the Chief Minister who explained the various opportunities in skilling, technology and ports. "We had meaningful talks with the Chief Minister on skill development and new age energy. We are interested in investing in the education sector and are looking forward to partnering with the State," she remarked.

Later, a Swiss Parliament Member of Indian origin Niklaus-Samuel Gugger along with his team met the Chief Minister and discussed trade opportunities in AP. Others who met the Chief Minister include Mitsui OSK Lines President Takeshi Hashimoto and Hero Group CMD Pawan Manjul. Hashimoto has said that they have discussed opportunities in the areas of shipping and logistics. The Chief Minister said they will focus on container hubs and logistics.