Andhra Pradesh Global Investor’s Summit-2023 reaps tremendous results
The foundation laid for investments and employment generation by the Andhra Pradesh Global Investors Summit-2023 held in March, has started yielding far-reaching results
- Andhra Pradesh
NewsTAP Bureau- Updated On:20 Jun 2023 1:25 PM GMT
AMARAVATI: The foundation laid for investments and employment generation by the Andhra Pradesh Global Investors Summit-2023 held in March, has started yielding far-reaching results.
The summit was a grand success as many national and international companies came forward to invest in Andhra Pradesh and signed Memoranda of Understanding (MoU) with the government. A total of 387 MoUs were signed with an investment commitment of Rs 13,12,120 crore and employment commitment of 6,05,733.
Out of the 387 MoUs, 14 projects already commenced commercial operations with an investment of Rs 2,749 crore creating employment for 7,108 persons. Besides this, 106 projects are under active construction and ready for groundbreaking with an investment of Rs 3,77,476 crore with the potential to create employment for 2,13,513 people.
Chief Minister YS Jagan Mohan Reddy will inaugurate and lay the foundation stone for six projects virtually, on June 22, 2023, with an investment of Rs 1,775 crore with the potential to create employment for 1230 people.
Remarkable strike rate
The grounding of projects achieved a strike rate of 29 percent in terms of investment and 35 percent in terms of employment, reflecting the confidence of the investors in the State.
The other projects are in the various stages of implementation such as land allotment, approvals in progress, DPR preparation and financial closures. In all 28 Projects are ready for groundbreaking in the coming month with an investment of Rs 1,93,150 crore with the potential to create employment for 1,17,937 people.
