Sunrise AP warms up to marquee investors
Vishakhapatnam: The Andhra Pradesh Economic Development Board (AP EDB) concluded the Partnership Summit 2018 with major commitments from marquee investors. AP EDB is a single point of contact for trade, investments and partnerships in the state of Andhra Pradesh.
The Governor of Andhra Pradesh and Telangana, ESL Narasimhan, said: “All the factors including good infrastructure, communications and investment climate are present in the state for investors. Investors have a huge advantage to invest in the state.” Andhra Pradesh Chief Minister Chandrababu Naidu said that over 4,000 delegates participated in the three-day summit, which concluded here on Monday.
Talking about the state's capital Amaravati, he said work is on to make it one of the best city in the world. Naidu also said that “the state would take the signed MoUs to their logical conclusion.
Reliance Industries has come forward to establish three projects in the state including one in Tirupati to manufacture one million cell phones. The state is making an auto hub in Anantapur and a hardware and electronics cluster.”
The overall investments committed under several MoUs at the summit are over Rs4.4 lakh crore. The AP EDB signed MoUs involving investments of Rs1.44 lakh crore and was instrumental in orchestrating South Korea and Japan country sessions at the Partnership Summit 2018.
Few of the marquee investment commitments were from companies such as Vedanta, Essel Group, Reliance Industries (RIL), Toray, Lixil, JBM Group. Amway, LV Prasad Eye Institute and All Cargo Logistics.
The Economic Development Board of the AP Government confirmed to have signed MoUs worth over1.4 lakhs. Some of the key sectors of MoUs, which concluded over the three days of summit include sectors such as auto, pharma and healthcare, aerospace and defence, construction, logistics and food processing.
The Partnership Summit is an annual investment extravaganza and the state has witnessed participation of 4,250 delegates from over 50 countries.