AP Govt Inks MoU s Worth Rs 4.25 Lakh Crore – Day 1 of CII Partnership Summit

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The first day of the CII Partnership Summit held at Vizag saw some amazing kick off in the form of business interactions, exchange of interests and the final ‘seal the deal’ in the form of signing of MoU s. AP State Govt has already signed MoU s with 128 companies that are set to bring investments worth Rs 4.25 Lakh Cr into the Sunrise State.

Some of the crucial deals and highlights of Day 1 of the CII Partnership Summit

  • MoUs have been signed with major names in the public sector into oil and gas. These alone value at Rs 1.38 Lakh Cr, and that includes Rs 20,000 Cr catered towards the expansion of the current facilities at Visakhapatnam.
  • There is every likelihood that AP will end the 21st Summit with close to 713 MoUs that are to fetch an investment value of Rs 10.05 Lak Cr
  • The MoUs when executed will create jobs for 14.9 Lakh people in the state
  • The previous year’s summit saw signing of 328 MoUs. This year, Day 1 alone counts 128 with major chunk of deals into IT and allied services. These companies alone will create close to 5.5 lakh jobs

The highlight of Day 1 being the CMs announcement about HPCL and GAIL making an investment of Rs 40,000 Cr and the ONGC making an investment of Rs 78,000 Cr. HPCL is expected to invest Rs 20,000 Cr for the expansion of the current facilities located in Visakhapatnam.

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