Two Years of Accomplishments
I have no doubt at all that under Chandrababu garu ’ s leadership , Andhra Pradesh will remain one of the fastest growing economies in India over the foreseeable future .
- Anil Ambani , Chairman , ADAG
It was a big feat for a fledgling state that was making its debut effort at an investment summit . The CII Partnership Summit held in Vizag in January 2016 was a success way above the expectations of the organisers .
The huge response has given a tremendous fillip to the industrial growth of Visakhapatnam city in particular and the state in general , setting the stage for the flow of future investments .
The State concluded the CII Partnership Summit by signing a total of 331 memoranda of understandings involving investment proposals of Rs 4.78 lakh crore that promise to create 10 lakh jobs .
In addition , the union government , through its representative and the Chemicals and Fertilizer Minister Ananth Kumar , has doled out a slew of large national institutions .
These include a large Greenfield Petrochemicals Complex , a Medical Devices Manufacturing Park , National Institute of Pharmaceutical Education and Research ( Niper ) and Central Institute of Plastics Engineering and Technology ( Cipet ), involving investments of over Rs 70,000 crore .
In all , the state headed by the business-friendly Chief Minister was blessed with aggregate investment proposals from both the private investors and union government to the tune of around Rs 6.21 lakh crore .
As many as 1,500 delegates , 350 them from abroad , participated in the summit .
Buoyed by the success of the summit , Chief Minister has also announced that the next summit of the CII would also be held in the city to sustain the momentum .
Essel group of Subhash Chandra was among the key private enterprises at CII Partnership Summit to announce large investments for two projects in AP .
The media-to-infrastructure group has agreed to set up a large solar panels manufacturing facility over 2,000 acres and a smart industrial city over 10,000 acres , involving investments of Rs 13,000 crore .
The smart industrial city would attract at least 200 industries with investment potential of Rs 73,000 crore , said Subhash Chandra .
The Union Chemicals and Fertilizers Minister Ananth Kumar said the state would get a petrochemicals complex to be built by HPCL and GAIL involving at least Rs 25,000 crore of investments . Further , HPCL would expand its capacity near Visakhapatnam involving investments of at least Rs 25,000 crore .
The state would also get a medical devices manufacturing park that could attract a minimum of Rs 20,000 crore of investments , he said .
Reliance shipyard
On the opening day , Anil Ambani made the announcement that a naval ship-building unit would be set up at Rambilli in Visakhapatnam district with an investment of Rs . 5,000 crore , setting the pace .
The Rashtriya Ispat Nigam Ltd - Visakhapatnam steel plant committed an investment of more than Rs . 38,000 crore on its future projects - mainly capacity expansion .
Trina solar project
Trina Solar ( India ) Pvt Ltd signed a MoU for setting up a Rs . 3,000-crore solar panel manufacturing unit in the multi-product AP Special Economic Zone at Atchyuthapuram in Visakhapatnam district .
Unlike the other companies , Trina Solar laid the foundation stone for the project on the day itself at the site . The company representatives said the unit would start production by the end of the year and it would provide jobs to 3,500 people . The unit was allotted 90 acres in the SEZ .
NIPER to be set up
The Union Minister for Petroleum , Chemicals and Petro-chemicals made an announcement that the National Institute for Pharmaceutical Education and Research ( NIPER ) would be set up here at an investment of Rs . 600 crore and it would stimulate the growth of pharma industry in the region surrounding Vizag .
If these projects fructify and take shape , there is no doubt that Visakhapatnam will become one of the major industrialised districts in the country .
" The State Government will make all efforts to get the projects grounded and get them completed as early as possible . We will pursue them in right earnest and we will review the progress in the next summit of the CII to be held here ," said the Chief Minister .. v JUNE 2016 ANDHRAPRADESHMAGAZINE . ORG 33