AP govt signs 14 MoUs for Rs. 21,000-crore investment.

The Andhra Pradesh Economic Development Board recently signed 14 MoUs with different private companies for projects entailing investment worth Rs. 21,000 crore in the State.

The MoUs were signed by J Krishna Kishore, the CEO of the APEDB, and representatives of the companies in the presence of Chief Minister N Chandrababu Naidu at Amaravati.

Maruti Ispat & Energy Pvt Ltd is planning to set up a steel and steel alloy manufacturing unit in Kurnool district on 200 acres, entailing investment of Rs. 1,227 crore and generating roughly 1,200 direct jobs.

More jobs

The Telugu Pharma and Chemicals Association plans to set up a pharma MSME cluster in Prakasam district, on 1,100 acres, entailing investment of Rs. 9,000 crore and generating 45,000 direct jobs. ZTT India Pvt Ltd also plans to set up an optical fibre cable unit in Sri City in Chittoor district with Rs. 700 crore, generating around 500 direct jobs.

Ojovati Pte Ltd, a Singapore-based company, is also planning a lithium ion cell unit in Sri City with Rs. 1,600 crore and creating 700 jobs. Avanze Inventive Pvt Ltd is planning a lithium ion battery unit again in Sri City, Chittoor district, with Rs. 1,800 crore and 900 jobs.

The CM assured company representatives that the State government will give all co-operation to them for speedy clearances and the State ranks number 1 in the ease of doing business. They should go ahead with the projects forthwith.

HBL