Andhra Pradesh CII Partnership Summit 2018

The third edition of the Sunrise Andhra Pradesh Investment Meet 2018 was held at APIIC ground in Visakhapatnam from 24 to 26 February 2018. The three-day event saw participation of over 4,000 delegates from 50 countries.

M Venkaiah Naidu, Vice President of India; Suresh Prabhu, Union Minister of Commerce and Industry and Nara Chandrababu Naidu, Chief Minister of Andhra Pradesh inaugurated the summit.

During the event the CM announced, “In terms of economic and industrial growth, Andhra Pradesh will be one among the top three performing states by 2022, the best in the country by 2029 and the best global destination by 2050.” The summit attracted investment intents worth Rs 4,39,000 crore with job prospects for 11 lakh. A total of 734 MoUs were signed.

Giving a boost to the state’s efforts, Reliance Industries inked two pacts with the state government with investment intents worth Rs 55,000 crore in electronics and oil and gas sectors. India Gas Solutions, an equal joint venture between Reliance Industries and British Petroleum (BP), pledged to invest Rs 40,000 crore in the oil and gas sector. While another Reliance Group entity--Reliance Infocomm--signed an agreement for more than Rs 15,000 crore to set up an electronics park at Tirupati.

The state inked an MoU with Google for digital education. Google Station project, through Google support, will provide wifi to all villages in the state within 2018. ANAS International Enterprises (SPA) also entered a pact with CRDA worth Rs 7,000 crore. It will invest in Inner Ring Road and other infrastructure activities in Amaravati.