More power to Rayalaseema. The three day CII Partnership Summit has rained sizable investments going to Rayalaseema. Adding to the list is the prestigious NTPC project, where the company will be setting up a 4,000 mW power plant at Puttiparthi of Anantapur district. A 2,250 mW solar power plant is also being contemplated for Andhra Pradesh.
Union Minister of State for Power, Coal and New & Renewable Energy, Piyush Goyal, spoke at the 22nd Confederation of Indian Industry’s (CII) Partnership Summit, organised along with the Government of Andhra Pradesh and the Department of Industrial Policy and Promotion, Government of India, in Visakhapatnam. This year’s CII’s flagship event came up with a theme, ‘Partnership for a Shared and Sustainable World Economy’.
Petrogas, a JV company between Isomeric Holdings Bhd from Malaysia and LEPL Ventures (LEPL) from Vijayawada, has signed a facilitation MoU with Krishnapatnam Port Company (KPCL). The agreement has been signed in collaboration with AP state government for setting up a Regasification and Floating Storage Terminal at Krishnapatnam Port with an investment of over $500 million at the Partnership Summit.
As per the MoU signed, the Petrogas will construct 5 Million Tons Per Annum (MTPA) capacity Regasification and Storage Plant and related ancillary facilities like Floating LNG Storage tanks, Regasification unit etc. in Phase-I, that is expected to cost $500 million.
Mr Goyal stated that India’s own commitment for a cleaner environment, an Intended Nationally Determined Contributions (INDC) agenda that India has put forward to the world has been executed at the summit. The same was acknowledged by the world leaders. India’s plans of scaling up the solar power 25 times shows the country’s initiative to create a cleaner and greener world.
Goyal also observed that the newly formed state of Andhra Pradesh has overcome a huge power crisis and become a power surplus state today. He assured the investors at the Summit that this is the state where their money will not only be safe but will also grow exponentially in the years to come.