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CII Summit sees 1 million job offers
The three day Partnership Summit jointly organised by the CII and State government at the end of the session signed 328 MoUs worth Rs 4.67 lakh crore investment and likely to provide direct employment to over a million people and indirect jobs to many more thus giving a major thrust to the development of the residual Andhra Pradesh.
Visakhapatnam: The three day Partnership Summit jointly organised by the CII and State government at the end of the session signed 328 MoUs worth Rs 4.67 lakh crore investment and likely to provide direct employment to over a million people and indirect jobs to many more thus giving a major thrust to the development of the residual Andhra Pradesh.
The major players who signed MoUs with the State government include the consortium of construction companies of China who assured the Andhra Pradesh government an investment of Rs 33,500 crore and which may provide employment to 2,40,000 people in different parts of the State.
Similarly, Hudco and Andhra Bank promised an investment of Rs 7,500 crore and Rs 5,000 crore respectively in the CRDA. In the infrastructure sector, Quantum Infrastructure Capital would be making an investment of Rs 16,750 crore and National Highway Infrastructure Development Corporation Rs 15,300 crore.
In the retail sector, Walmart, Future Group, Arvind Brands and Spencer Retail agreed to invest Rs 1,480 crore providing an employment to 37,150 people. Terming the Summit a mega success and Sankranti gift to Seemandhra people, IT Minister Palle Raghundha Reddy told the reporters that 328 MoUs were signed for Rs 4,67,577 crore investment which would provide employment to 9,58,896 people all over the State.
Of all the MoUs, industry drew maximum investment of Rs 2,01,277 crore signing over 115 MoUs and promising employment to 4,30,886 people. Twenty-four MoUs were signed in the energy sector worth Rs 1,45,842 crore providing employment to 68,205 people, eight signed for infrastructure for Rs 43,900 crore investment providing employment to 15,000 people, four signed for housing worth Rs 41,500 crore, providing employment to 2.5 lakh people, four for CRDA worth Rs 13, 300 crore (no employment mentioned),
25 in mining worth Rs 6,455 crore offering jobs to 10,390 people, 65 in food processing worth Rs 5,102 crore offering jobs to 61, 900 people, 26 in tourism sector worth Rs 4,659 crore offering employment to 15,240 people, 64 in IT sector worth Rs 3,318 crore providing jobs to 50,000 people, four in retail division worth Rs 1,480 crore offering jobs to 37,150 people, one signed with MAUD worth Rs 500 crore offering jobs to 1,000 people, six in animal husbandry worth Rs 195 crore and 16 in skill development offering jobs to over 45,000 people. Value in skill development was not mentioned.
