AP: 102 projects to be finished, MoUs signed for Rs 5,980 cr investments
Amaravati: At a time when Andhra Pradesh Government is setting the stage for signing memoranda of understanding and attracting investments of over Rs 6.38 lakh crore during the two-day Partnership Summit, Governor ESL Narasimhan on Thursday said State was signing MoUs for an estimated investment of Rs 5,980 crore.
"My Government is signing MoUs with private investors for an estimated investment of Rs 5,980 crore in the State. At the same time, at least two ultra-mega food parks are expected to take shape in the next couple of years," he said in his Republic Day address after unfurling the tricolour at the IGMC Stadium in Amaravati.
"We are planning to complete all the 102 projects which are in various stages of completion as soon as possible.
Proposals of 80 industries worth Rs 15,000 crore are being finalised and revival of sick industries is being examined.
"It is a matter of pride that my Government got the opportunity to host Partnership Summit 2017 (beginning tomorrow) and the second Sunrise AP Investment Meet in
succession at Visakhapatnam on January 27 and 28," he said.
Interestingly, the Government is adopting a "target- driven" approach for attracting investments. It set "targets" for different departments on the number of MoUs to be signed and the amount of investment attracted during the summit.
The AP Economic Development Board, for example, has been set a target of Rs 2 lakh crore investment while the Energy, Infrastructure and Investment Department was given a similar target.
Tourism Department has been asked to attract Rs 10,000 crore, while the Capital Region Development Authority asked to bring in Rs 10,000 crore from real estate developers alone.
"These are not targets actually. We have given some 'numbers' to each department so that we have a realistic figure," Chief Secretary Satya Prakash Tucker told PTI.
Meanwhile, the Information and Public Relations Department came out with a press note saying 425 companies have sent their proposals to invest around Rs 6,38,107 crore.
The release claimed 48 per cent of the 328 MoUs signed during last year?s Partnership Summit converted into reality while 42 per cent of the investment proposals materialised.
The official note claimed 38 units had already "gone into production", creating 27,315 jobs, while another 6 units that would employ 2,625 persons were currently on trial.
"There is scope for creation of another 1.5 lakh jobs as we have already allotted required land for the proposed units in 55 cases, involving an investment of Rs 86,700 crore," a top official of Industries Department said.
"In 122 cases, detailed project reports are yet to be submitted while in other 49 other the prospective investors are seeking Government land. So these projects are stuck," the official added.
