CII Partnership Summit concludes – State attracts Rs.10 lakh crore investments

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Saturday, January 28, 2017

The 23rd edition of the CII Partnership Summit two-day meet concluded here on Saturday with the Chief Minister Nara Chandrababu Naidu announcing signing of 665 MoUs envisaging an investment of Rs.10.54 lakh crore that will generate employment to over 22.34 lakh.

Nearly 2,000 delegates including 350 from 50 countries attended the meet and eight Union Ministers including Arun Jaitely, Nitin Gadkari, Suresh Prabhu, M.Venkaiah Naidu and P.Ashok Gajapai Raju and several industrialists attended the meet.

Governor E.S.L.Narasimhan in his valedictory address showered praises on Chandrababu for his initiatives to ensure sustainable development and improve the happiness index by improving the quality of life.

  • Vizag-Raipur freight corridor:: Union Minister for Roads, Highways and Shipping Nitin Gadkari said that the government was firm on implementing the Sagarmala Project with an investment of Rs.15 lakh crore. He promised to consider the request of Chandrababu Naidu to sanction a dedicated freight corridor with six-lane road and a rail line between Visakhapatnam-Raipur. MoU was entered between the State government and NHAI for improving road connectivity involving an investment of Rs.75,000 crore and another between CRDA and NHAI to create a road network of 426 km in Amaravati area with an outlay of Rs.23,430 crore.
  • Maple CFIM ink pact:: An MoU was signed by Maple Software Pvt.Ltd., Vizag represented by G.S.Shiv Kumar and CFIM Ltd., USA representative by Krish for an investment of Rs.50 crore. CFIM has committed to an investment in software development/ITES and in health care sector for about Rs.50 crore. It will generate 1,000 new jobs in five years starting this financial year.
  • RINL-APMDC sign MoU:: RINL signed MoU with AP Mineral Develoment Corporation for exploration of Kukunoor iron ore mines in West Godavari district.
  • VIT inks pact with Rochester Institute of Technology:: Vellore Institute of Technology (VIT) signed an MoU with Rochester Institute of Technology. The MoU was exchanged by VIT Vice-Chancellor S.Viswanathan and RIT Associate Provost of International Education and Global Programs James Myers.
  • LED street lights:: New and Renewable Energy Development Corporation of AP and AP State Efficiency Development Corporation entered into an MoU with the Panchayat Raj department to install LED street lights in 1500 gram panchayats with a cost of Rs.1,500 crore.
  • Desalination plant to come up:: An Isreael based IDE Solutions has inked a pact with the State government to set up a water desalination plant near the city with an investment of Rs.700 crore. IDE Tehnology India Pvt.Ltd., has proposed to make an investment within two years and the plant to come up near Pudimadaka. The proposed plant would have a capacity of 100 million litres per day.
  • Tourism to boost up :: Mumbai based Bombay Amusements Ltd., signed an MoU with the government to execute a sky tower project atop Kailasagiri. It will be modelled on the lines of Singapore’s Tiger Tower with a total investment of Rs.85 crore. It would be built by a German based manufacturing company and the tower will have the capacity to withstand a wind speed of 300 km per hour. Wellness centre projects worth Rs.12 crore, a miniature golf and tourism park entailing investments of Rs.6 core, holiday resort in Araku to the tune of Rs.6 core and adventure training institute are coming up in and around the city.

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