Energy dept bags major share of investments at summit

Visakhapatnam: Andhra Pradesh’s energy department got the lion’s share of the state’s investment proposals at the Global Investors Summit, accounting for Rs 8.93 lakh crore of the total Rs 13.41 lakh crore. The industries and commerce department was second, accounting for 3.36 lakh crore of the total.

In all, the investments have the potential to carve out 6.09 lakh jobs in six key departments.

Department-wise, the agriculture sector secured investments of Rs 1,160 crore through 15 MoUs, animal husbandry secured investments of Rs 1,020 crore through eight MoUs to generate 3,750 jobs, the energy sector secured investments of Rs 8.93 lakh crore through 39 MoUs to generate 2 lakh jobs, and the tourism sector, which secured Rs 22,096 crore through 117 MoUs to generate 30,000 jobs.

On Day 1, the AP government had signed 92 MoUs worth Rs 11.85 lakh crore. The energy department got an investment of Rs 8.25 lakh crore through 35 investment proposals and will generate 1.33 lakh jobs, industries and commerce secured commitments worth Rs 3.2 lakh crore through 41 proposals and will create 1.79 lakh jobs, IT/ITeS secured investments of Rs 32,944 crore through six proposals with an aim to create 64,815 jobs, and tourism department secured Rs 8,718 crore through 10 proposals with a commitment to generate 13,400 jobs.

On Day 2, 286 memoranda of understanding were signed for Rs 1.56 lakh crore, taking the total investments to Rs 13,05,663 crore.

In all, 64 groups of companies entered into 92 MoUs on Day 1.

The highest investment commitments were made by NTPC (National Thermal Power Corporation), of Rs 2.35 lakh crore with a potential to generate 77,000 jobs.

Other major investors include JSW Group, which signed six MoUs to invest Rs 50,632 crore and generate 9,500 posts, ABC Limited, which signed an MoU to invest Rs 1.2 lakh crore and generate 7,000 jobs, ReNew Power, which signed MoUs to invest Rs 97,500 crore and generate 16,550 jobs, Adani Green Energy, which signed two MoUs to invest Rs 15,500 crore and generate 14,000 jobs, ACME, which signed MoUs to invest Rs 68,976 crore and generate 3,900 jobs, and TEPSOL Project Limited, which signed MoUs to invest Rs 65,000 crore and generate 5,500 jobs.