AP Secures Rs 25,000 Crore Investment Commitments at Visakhapatnam Summit

Andhra Pradesh has secured investment commitments worth nearly Rs 25,000 crore through the first regional summit held at IIM Visakhapatnam, as the state government steps up efforts to accelerate industrial growth and project implementation.

The summit was organised as the first of five regional investment meets being held ahead of the 31st CII Partnership Summit, scheduled to be held in Visakhapatnam in November. The event resulted in 31 agreements across sectors identified as having strong growth potential. According to the state government, the investments covered under these agreements are expected to create nearly 57,000 employment opportunities, marking a significant push towards expanding the state's industrial base.

Among the prominent investment commitments announced at the summit, Himadri Specialty Chemical Ltd pledged Rs 5,000 crore, emerging as the largest investor at the event. Oriana Power Ltd committed Rs 4,500 crore, while Granules India Ltd announced plans to invest Rs 4,000 crore. Renew Photovoltaics also committed Rs 1,500 crore towards its proposed projects in the state.

The government said the summit was not limited to securing investment commitments but also focused on ensuring that projects move quickly into the implementation stage. As part of this effort, 33 projects with a combined investment of Rs 3,519 crore were inaugurated or had their foundation stones laid during the event itself.

These projects are expected to generate 9,449 direct jobs, with investments spread across the CIPP, tourism and MSME sectors. The government described the successful conclusion of the first regional summit as an important step towards creating a faster and more investor-friendly environment for industrial projects.

The regional investment programme will now move to Kakinada, Amaravati, Anantapur and Tirupati during October. The five regional meets are being organised with a focus on strategic economic zones and are intended to identify region-specific investment opportunities while connecting prospective investors with projects.

The initiative is also being aligned with the state's long-term Swarna Andhra Vision-2047. Under the vision, Andhra Pradesh has set an ambitious target of becoming a $2.4 trillion economy, attracting $500 billion in investments and generating 50 lakh jobs.

The regional summits are expected to build momentum ahead of the 31st CII Partnership Summit, which will be held in Visakhapatnam on November 12 and 13.