VISAKHAPATNAM: Making big gains, Andhra Pradesh government has bagged projects worth over Rs.13 lakh crore during the Global Investors Summit (GIS) kick-started on Friday.
The state attracted several big-ticket projects in green energy sector. The new projects including the 10GW plant by Reliance industries will consolidate Andhra Pradesh’s position as leader in the green energy sector. All prominent industry groups in India including Adani, Jindal, JSW, Dalmia, Shree have pledged to invest in AP.
Addressing the inaugural session at the prestigious GIS on Friday, the chief minister YS Jagan Mohan Reddy has announced that they have received investment proposals to the tune of Rs.13 lakh crore from different firms. He said that these projects would come up in 20 different sectors and different locations to create massive employment in the state. With GIS in Visakhapatnam becoming a smashing hit in catching the investments, a visibly jubilant chief minister declared that the port city would soon become the executive capital city of the state.
"Visakhapatnam is going to be the executive capital city of the state. Entire administration will be run from this port city. I will be moving here very shortly," said YS Jagan.
He said that the new investment proposals would create employment to nearly 6 lakh people in the coming years. Promising the industrialists of extending full support, the chief minister promised that the state government is just a phone-call away to attend all their needs. Chief minister invited the industrialists to actively invest in the state keeping in view of its abundant resources, natural advantages and availability of skilled manpower. He said that AP is the only state to achieve double-digit growth rate in the country.
"Through this summit, we would like to communicate to the domestic and international community that you are important to us. We are sharing the opportunities that the state has to offer. The emphasis is on healthy competition and exploring long-term partnerships," said Jagan.
He said that AP is blessed with a large renewable energy potential of 82.5 GW. He said that it is one of the very few states in India that has combined potential for solar, wind and pumped storage. He said that they have also identified and set aside dedicated land parcels for wind, solar and pumped storage projects. He explained that AP is India’s gateway to the southeast with its 974 km long coastline, the second longest in the country, 6 existing ports, and 4 upcoming ports.
"Coincidently, it has also emerged as the fastest-growing state in India. AP achieved double-digit growth of 11.43% in 2021-22," said Jagan.
