The Andhra Pradesh (AP) government will sign 46 MoUs with companies drawn from India, Japan, UAE and Canada, among others, in Vizag on Wednesday, with a total investment outlay of about Rs 35,745 crore. The objective is to make Andhra Pradesh the best business destination in India by 2050.
AP will also unveil the state’s industrial policy and sectoral policies, apart from launch of a single-desk portal that grants clearances for industrial projects within 21 days, according to a communication from the CM’s office.
These MoUs will include investments in sectors from petrochemicals to energy, infrastructure, electronics and manufacturing, food processing, textile, automobiles, etc, thereby generating over 72,210 jobs in the state. As part of the MoUs signed, 48 units will be set up in the state, spanning across various districts. Later, the CM will give land allotment letters to Asian Paints for Visakhapatnam unit, ONGC for Kakinada facility, KRIBCO in Nellore and Kurlon in Chittoor.
Charge D’Affairs, embassy of UAE, HE Saed Mohammed Almheiri, Consul General of Japan to Chennai Masanori Nakano, Consul General of Canada Sidney Frank, CEO of Industrial and Commercial Bank of China Nadira Hamid, Trade Commissioner, high commission of Canada Vikram Jain and delegates from HPCL, GMR Group, HSBC, Citigroup and several others will attend.