Inviting entrepreneurs from India and abroad to invest in Andhra Pradesh, Chief Minister N Chandrababu Naidu has said that the State will emerge very strong industrially in the coming years, as an industry-friendly policy has been formulated and it will be implemented in right earnest.
He was speaking here on Wednesday after releasing the Industry Mission document at a conclave of industrialists.
“The world is bullish about India and Andhra Pradesh in particular,” he said addressing a galaxy of industrialists from across the world here to attend the function and participate in interactive session with him.
He said the State was rich in minerals and had a good working climate.
The State would like to attract ₹2,00,000 crore investment by 2020.
“Visakhapatnam in particular is the major port city in the State and suitable for investment in all sectors. It will emerge as the economic capital of the state,” he said.
46 MoUs On the occasion, the AP Government signed memoranda of understanding with 46 companies for investment worth ₹35,745 crore to generate 75,000 jobs.
Forty-eight units will be set up in the State, with one company setting up three units.
Among the units, 17 will come up in Chittoor district, six each in Kurnool and East Godavari, three in West Godavari, two each in Nellore, Kadapa, Anantapur, Visakhapatnam, Guntur and Krishna and one in Prakasam district. The locations for the remaining units are not yet finalised.
He also handed over letters of allotment of land to four companies: Asian Paints for setting up a manufacturing unit in Visakhapatnam district with an investment of ₹1,300 crore; ONGC for laying a gas pipeline near Kakinada with an investment of ₹355 crore; Kribhco for setting up a fertiliser unit in Nellore district with an investment of ₹630 crore; and Kurlon for setting up a mattress unit in Chittoor district with an investment of ₹70 crore. The Chief Minister also inaugurated a single desk portal which would give clearances to the industrial units in 21 days.