Investment worth Rs 73,000 crore brought to Andhra in 3 years: Minister

Addressing a press conference, Minister Amarnath said that Jagan Mohan Reddy government gave impetus to the industrial sector which was neglected by the previous governments in the state.

Visakhapatnam: Highlighting Andhra Pradesh as a favoured destination for investment, state Industries Minister Gudivada Amarnath on Friday said investment worth Rs 73,000 crore has been brought in the state in the last three years.

Addressing a press conference, Minister Amarnath said that Jagan Mohan Reddy government gave impetus to the industrial sector which was neglected by the previous governments in the state.

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“In the last three years, 21 large and very large industries have been brought in the state with an investment of Rs 73,000 crore, thereby providing employment opportunities to 60,000 people,” he said.

He informed that the foundation stone will be laid next month for the solar panels’ industry to be set up in the state with an investment of Rs 4,000 crore.

The Minister said that seeing the incentives given by the state government to the industrial sector, many industrialists are coming forward to invest in the state and many industrialists are showing interest in investing in heavy industries, IT, handlooms and green energy sectors.

Amarnath informed that Yakahoma Tires Company and Apache Footwear will expand their industries in the state and export their products to the countries of the world from here. “AP has become a compass for integrated projects like solar, wind and pump storage, and the foundation stone of 5,200-megawatt power generation plants was laid in the month of May, and there are opportunities to establish another 30,000-megawatt capacity projects in the state,” he said.

He said that Andhra Pradesh’s GDP is three per cent higher than the country’s GSDP.

The Minister said that industrialists from all over the world will be invited to the Global Investment Conference to be held in Visakhapatnam on March 3-4. Amarnath noted that Chief Minister Jagan Mohan Reddy has ordered to personally inform the industrialists in the respective countries about the assistance and cooperation provided by their government to the industrialists investing in Andhra Pradesh.

Amarnath exerted that large-scale investments will flow to the state due to this.

He said that the construction of the first phase of the Kadapa Steel Plant will begin on 11,000 acres with an investment of Rs 8,500 crore. He said electronic manufacturing hubs will be set up in Kopparthi, Tirupati and Nellore.