VIJAYAWADA: After succeeding in attracting Rs 13.25 lakh crore investments at the 30th CII Partnership Summit held in Visakhapatnam on November 14 and 15, the Andhra Pradesh government has laid emphasis on grounding projects signed at the earliest as they are expected to generate 16.31 lakh jobs.
The government, which set a target of attracting investments to the tune of Rs 10 lakh crore during the CII Partnership Summit, has achieved 30% more by highlighting the growth potential of AP.
While Chief Minister N Chandrababu Naidu is optimistic that majority of the 613 MoUs signed will be realised at the earliest, sources say grounding of at least 50% of the projects is certain.
‘Lokesh’s team vetted deals meticulously’
On its part, the government has decided to expedite the process of clearing the investment proposals by the State Investment Promotion Board (SIPB) and the Cabinet.
Sources revealed that extensive groundwork was done by the team led by HRD and IT Minister Nara Lokesh, meticulously scrutinising investment proposals before signing Memoranda of Understanding (MoUs) with investors.
The government is contemplating constituting special teams to follow up with investors to ensure grounding of projects at the earliest, they added.
Speaking to TNIE, AP Chambers of Commerce and Industry Federation (AP Chambers) president Potluri Bhaskara Rao said, “More than 50% of the MoUs will be materialised soon as the government has signed agreements only after getting full confidence in the credibility of investors.”