Andhra Pradesh Global Investment Summit 2023 drew leading industrialists and delegates of several MNCs to the port city of Visakhapatnam, where most of the top business leaders and several senior ministers unveiled the future investment plans for the state.
Sri Nitin Jairam Gadkari, Hon’ble Union Minister of Road, Transport & Highways, Govt. of India, in his keynote address, highlighted the major ongoing infrastructure projects in the state that will enhance the attractiveness of AP as an investment destination. “My ministry has decided to connect the ports with 4-lane National Highways. We are also aware that there are 3 port-led industrial corridors passing through Andhra Pradesh and we are developing a multi-modal logistics park along these corridors,” Sri Gadkari said. The Hon’ble Union Minister also mentioned that projects like Visakhapatnam-Raipur expressway and Chennai-Bengaluru expressway will immensely benefit Andhra-based industries.
Sri Mukesh Ambani, Chairman & Managing Director of Reliance Industries Ltd. stated, “We will invest in 10 GW renewable solar energy in the state of Andhra Pradesh. Reliance Retail has partnered with more than 1.2 lakh kirana merchants across 6000 villages in Andhra Pradesh, equipping them with tools needed to thrive and succeed in the digital age, creating over 20,000 direct jobs and a large number of indirect jobs in the process. We are also creating the largest digital network footprint in the state by investing over 40,000 crores. True 5G will be completed before the end of 2023 throughout India including Andhra Pradesh.”
Praising the Hon. CM of Andhra Pradesh, Sri Y. S. Jagan Mohan Reddy, Sri Ambani said, “Andhra Pradesh has grown phenomenally under your visionary and youthful leadership, and the state today ranks among the best in India. My warm congratulations to you and all the officials of Andhra Pradesh.” He also mentioned that the growth of the blue economy will open up new opportunities for Andhra Pradesh.
Speaking on the occasion, Sri Naveen Jindal, Chairman, Jindal Steel & Power Ltd. said, “We are working on setting up a 3 mn-tonne steel plant by investing INR 10,000 crore, generate employment for over 10,000 people. We are going to sign an MoU to this effect today.”
On behalf of his brother Sri Sajjan Jindal, Chairman & Managing Director, JSW Group of Companies, Sri Naveen Jindal announced that JSW Group is setting up a steel plant in Kadapa, a dream project of the Hon. Chief Minister. JSW group is also signing MoUs with the state government for investing in Renewable Energy across Solar, Hydro, and Wind; and also for expanding its cement capacity in the state. The group is also investing in a port, building a slurry pipeline as well as an MSME park.
The speakers, each of whom appreciated Andhra Pradesh for its leadership, resources and technology, also included Sri Karan Adani, CEO, Adani Ports and SEZ; Sri G.M. Rao, Chairman, GMR Group; Sri Sumant Sinha, Chairman & Managing Director, Renew Power; Sri Hari Mohan Bangur, Chairman, Shree Cement; Dr. Preetha Reddy, Vice Chairperson, Apollo Hospitals; Sri Puneet Dalmia, Managing Director, Dalmia Bharat Group; Sri Sajjan Bhajanka, Chairman, Century Plyboards; Sri BVR Mohan Reddy, Founder Chairman, Cyient; Sri Masahiro Yamaguchi, MD, Toray Industries India Limited; Sri Kab Dong Lee, Kia India; Sri Sumit Bidani, CEO, Knauf; and Sri Martin Eberhard, Co-founder & Former CEO – Tesla Inc.
