VIJAYAWADA: The week-long Dubai Expo, which concluded on February 17, yielded good results for the industrial sector in Andhra Pradesh. The State exchanged MoUs with five major companies -- Regency Group (for hyper retail markets and food processing unit), Mulk Holdings (aluminium coil & panel manufacturing), Sharaf Group (integrated Logistics park), Tabreed (sustainable cooling infrastructure) and Causis e-mobility Pvt Ltd (e-buses)--with an intent to attract investments worth Rs 5,150 crore and generate 3,440 direct and 7,800 indirect jobs.
Industries Minister Mekapati Gowtham Reddy said: “I believe these MoUs will give confidence to other firms to invest in the State. The recent EoDB rankings and upcoming industrial infrastructure initiatives under the leadership of Chief Minister YS Jagan Mohan Reddy have created a pulling effect on the investors across the globe. We believe in sustainable industrial transformation by protecting the environment, where communities share the long-term benefits of industrialisation by way of local employment, improved connectivity and increased living standards.”
A high-level delegation from the State, led by the minister, initiated multiple investment roadshows with business houses based in Dubai and Abu Dhabi. The minister addressed over 400 business professionals from across industries and highlighted the immense opportunities in the State for investments and collaborations in sectors such as agriculture and food sectors, infrastructure (ports, airports, logistics, industrial parks, construction, renewable energy), manufacturing (pharmaceuticals, food processing, petrochemicals, IT & electronics, textiles, electric mobility) and exports.
The delegation had advanced-level discussions with major firms for finalisation of their investment interests in sectors such as gypsum board building materials (Rs 600 cr and employment of 300), automotive and batteries (Rs 105 crore and employment of 300), food processing (Rs 150 cr and employment of 300), consumer and industrial packaging unit (Rs 100 cr and employment of 200), prefabricated structure development (Rs 250 crore and employment of 200).
Innovation-shared services focused on delivering digital solutions across healthcare, cloud governance, utilities, education, and industrial automation using AI and ML technologies, and setting up of tertiary multi-specialty hospitals as part of the health hubs were also discussed. It resulted in the potential investment interest of over Rs 10,350 crore and employment of 5,740 directly and 10,000 indirectly across emerging sectors within the India-UAE strategic partnership for trade and commerce.
Over 70 investable projects across 11 focus areas of industrial parks and infrastructure, 3 MTPA YSR Kadapa Steel plant, renewable energy, ports, airports & logistics parks, agriculture and marine processing clusters, health hubs at all 13 districts and 10,000 health clinics in a hub and spoke model, petrochemical investment region in the state were promoted before various investment and financial institutions, holding potential investment size of $36.7 billion.
The delegation also held productive discussions with the large state-owned financial holding companies such as Mubadala Investment Company, Abu Dhabi Investment Authority (ADIA), KAAF Holdings, Standard Chartered Bank, Family Offices, Abu Dhabi Global Markets (ADGM), which evinced interests in projects generating a return on investment (ROI) of 13-15% in specific investable projects.
Andhra Pradesh pavilion in Dubai Expo saw a footfall of 7,000-10,000 visitors per day experiencing the rich tradition of the State combined with initiatives being taken by the state government in ‘Transforming governance paradigm’, ‘Investing in Future’, measures driving ‘Equitable Economic Growth’, and integrating ‘Environment & Social Governance’ towards sustainable development’.
