AP govt to sign 46 MoUs with investment outlay

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.

These MoUs include investments in sectors from petrochemicals to energy, infrastructure, electronics and manufacturing, food processing, textile and automobiles thereby generating 72,210 new jobs in the state, the chief minister’s office said in a statement. The list of MoUs also includes major public sector and private companies such as HPCL, ONGC, Vizag Steel and Isuzu .

The massive event, being organised in Visakhapatnam, will also witness the unveiling of the state’s industrial policy and sector policies apart from the launch of a single-desk portal that promises grant of all clearances within 21 days by chief minister N Chandrababu Naidu.

The chief minister will give land allotment letters to Asian Paints, ONGC, Kribco and Kurlon for plants they had already proposed to set up in the state. International delegates from embassies of UAE, Japan and Canada apart from the senior executives from HPCL, GMR, HSBC and Citi Group are taking part in the event, the release stated.