As many as 340 proposals involving investments of Rs 13 trillion have been received at the Global Investors Summit 2023, hosted by the Andhra Pradesh government, state chief minister YS Jagan Mohan Reddy said on Friday at the inaugural session of the two-day event.

Corporate leaders, including RIL’s Mukesh Ambani, GMR Group’s GM Rao, Karan Adani, CEO, Adani Ports and SEZ; and Naveen Jindal, chairman, Jindal Steel & Power (JSPL), attended the session. They announced their investment plans in the state in assorted areas, including telcom infrastructure, green & renewable energy, logistics, and cement and steel manufacturing.

These investments, Reddy said, would generate jobs to about 600,000 people across 20 sectors, he said. “While 92 MoUs involving investment proposals for Rs 11 trillion have already been signed today (Friday), the remaining will be executed tomorrow (Saturday),” Reddy said.

Ambani announced plans for setting up a 10 GW solar plant in Andhra Pradesh and added that Reliance Industries is investing Rs 40,000 crore for the rollout of ultra-high speed 5G telephony network in the state.

Reliance had in 2021 announced plans to create by 2030 capacity to generate at least 100 GW of electricity from renewable sources, which can be converted into carbon-free green hydrogen. It is also investing in setting up giga-factories to manufacture components for the green energy value chain.

Rao said the GMR Group is in the process of developing an international airport at Bhogapuram with a Rs 5,000-crore investment on the aerodrome in the first phase. “We will be developing the Bhogapuram Airport with the first phase serving six million passengers and an ultimate capacity of 40 million passenger (per annum),” Rao said.

The airport will have state-of-the-art cargo facilities that will cater to exports and aerotropolis and airport city around the airport that will consist of an industrial zone, airspace zone and education and healthcare zones, he said. Rao further said the airport would replicate the success of Hyderabad aerodrome which will help in the transformation of Visakhapatnam city and also place the state on the global map as the most preferred investment destination.

The Adani group will set up two new cement manufacturing plants, 15,000 MW of renewable power projects and a data centre as it looks to double down on its presence in the state, said Karan Adani, founder family’s scion. The group plans to double the capacity of the two sea ports it operates at Krishnapatnam and Gangavaram in the state, he said. These investments will be on top of the Rs 20,000 crore already invested in the state, which created more than 18,000 direct and 54,000 indirect jobs.

The Adani group will set up cement plants with total capacity of 10 million tonne per annum at Kadappa and Nadikudi in the state as well as a 400 MW data centre in Visakhapatnam.

JSPL will be investing Rs 10,000 crore in the state for setting up a 3-million-tonne-per-annum steel plant, leading to the creation of 10,000 jobs, said Jindal.

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The CM said, “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.”

Reddy said that the GIS is taking place in 2023 when the country played a key role as the leader of G20. “This throws up great opportunities for India in terms of attracting global investment and technology,” he said.

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“Andhra Pradesh is blessed with a large renewable energy potential of 82.5 GW. It is one of the very few states in India that has combined potential for solar, wind and pumped storage. We have also identified and set aside dedicated land parcels for wind, solar and pumped storage projects”, he said.

(With PTI inputs)