VISAKHAPATNAM: A day before the much-anticipated CII Partnership Summit begins in Visakhapatnam, the Andhra Pradesh government attracted a wave of investments with the signing of 35 Memoranda of Understanding (MoUs) across five key sectors.
The agreements, signed in the presence of Chief Minister Nara Chandrababu Naidu, represent a total investment of Rs 3.65 lakh crore, and are expected to generate more than 1.26 lakh jobs across the State.
Among these, the energy sector alone accounted for Rs 2.65 lakh crore through seven MoUs. Companies such as ReNew Power, Navayuga Engineering, Chinta Green Energy, ABC Cleantech and Axis Energy Ventures announced large scale projects, collectively expected to create over 49,000 jobs.
The industries and commerce sector also witnessed strong participation, with investments worth Rs 52,143 crore from firms such as Vizag Profiles Logistics, Steel Exchange India, Virupaksha Organics, and Shirdi Sai. These projects are set to provide employment to more than 32,000 people. APCRDA attracted Rs 32,300 crore through eight MoUs, which will open up around 7,800 job opportunities. Notable investors in this category include Manipal Group, Berjaya Group, and Vivens Group.
‘Andhra focusing on becoming number one destination for investments’
In the IT and infrastructure sector, companies such as Crown LNG and RCRT committed a total investment of Rs 12,255 crore, generating about 1,300 jobs. Meanwhile, the food processing sector saw four MoUs signed for an investment of Rs 2,319 crore, which will create 8,166 jobs.
Speaking on the occasion, the Chief Minister said the State’s focus is on becoming the number one destination for investors by ensuring that “speed is the mantra for achieving investments.” He noted that Andhra Pradesh has emerged as a preferred hub for industries due to its robust connectivity, 1,000 km coastline, ports, rail and road networks, and progressive policies that encourage innovation and enterprise.
Naidu pointed out that companies like ReNew Power, which had earlier exited the State, are now returning, signalling renewed investor confidence under the coalition government. He reiterated the government’s commitment to promoting green energy, logistics, food processing, horticulture, and technology-driven sectors such as Space City, Drone City, and Electronic City.
As part of its CSR initiative, Balaji Action Buildwell Pvt Ltd donated Rs 1 crore for the State-run Anna Canteens.
In a conversation with TNIE, Sumant Sinha, Founder, Chairman, and CEO of ReNew, said the new projects mark an important step in expanding the company’s operations in AP. Sinha added that Andhra Pradesh’s business-friendly environment and quick decision-making process encouraged the company to expand further.
“The State has rich natural resources and great potential. What motivated us most was the support and cooperation from the government. Andhra is not only good for the ease of doing business but also for the speed of doing business,” he said.“The projects, to be completed within six years, are expected to create around 10,000 direct and many indirect jobs in the State,” he noted.
Sinha also revealed that ReNew is open to supporting the State government to establish a Green University.