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AP woos partners big time
With as many as 1,400 delegates making a beeline to Visakhapatnam and over 100 MoUs lined up for signing, Andhra Pradesh is all geared up to attract more than Rs 2 lakh crore investments during the 3-day CII Partnership Summit 2016 that gets underway in the City of Destiny on Sunday.
Looks to attract over 2 lakh cr investments, ink over 100 MoUs
Visakhapatnam/ Hyderabad: With as many as 1,400 delegates making a beeline to Visakhapatnam and over 100 MoUs lined up for signing, Andhra Pradesh is all geared up to attract more than Rs 2 lakh crore investments during the 3-day CII Partnership Summit 2016 that gets underway in the City of Destiny on Sunday.
The delegate count is expected to cross 350 with overseas participants from 37 countries, indicating wider interest among investing community on AP. According to organisers, large number investments are expected in the energy, pharmaceuticals, manufacturing, food processing, tourism and information technology sectors.
The 22nd edition of the Partnership Summit is being organised by the Confederation of Indian Industry (CII) in collaboration with the Andhra Pradesh government. S S Rawat, Secretary, AP Industries Department, said on Saturday that nearly 30 per cent of the over 100 memoranda of understanding (MoUs) confirmed so far for signing at the event would come from overseas companies while domestic companies and Indian-based multinationals were expected to make up for the rest.
Major investment deal is expected to come from oil giant HPCL which is likely to sign an MoU to invest Rs 70,000 crore in the State.“So far, the Partnership Summit has evoked overwhelming response.” “We have initially feared that it may not attract more than Rs 30,000 to Rs 40,000 crore investment as AP is holding such an event for the first time.
Going by the response, we are confident that the total investments will be three to four times of that,” Suresh Rayudu Chitturi, president, AP chapter, CII, told The Hans India. According to him, over 200 MoUs will be signed during the event as more investors are showing interest.
Meanwhile, the Partnership Summit will begin with inaugural session on Sunday followed by signing of MoUs in power and renewable energy sectors. AP government will release its retail policy on the second day on Monday after inking investment agreements with retail majors.
It will also sign deals in mining, food processing and manufacturing on the same day. The third and last day is allocated for tourism and skill development agreements. Concurrently, the organisers are also holding several conferences and interactive sessions that focus on economy and other topics concerning industrial sectors.
Several Union ministers will take part in the event which will be inaugurated by Andhra Pradesh Chief Minister N Chandrababu Naidu. Among the industry leaders who will attend the event are Adi Godrej, Group Chairman, Godrej, Baba Kalyani, Managing Director, Bharat Forge and Aditya Ghosh, President, Indigo.
