Ambani, Adani looking to AP for investments: Jagan

ATCHUTAPURAM: Chief Minister YS Jagan Mohan Reddy has said that the State is rapidly progressing in the field of industrialization with major corporates looking towards Andhra Pradesh. After inaugurating the first phase of the AP Tires unit at the AP SEZ on Tuesday, the Chief Minister said that Japan-based Yokohama Company has begun production in just 15 months and the second phase is likely to go into steam by August 2023.

He also said the Company stands in fifth place in the world ranking and is likely to move to the third spot soon and expressed his happiness for such a Company coming to AP. "In the first phase, the Company has invested Rs 1250 crores employing over 1200 people. In the second phase employment would be created for over 800 people," YS Jagan said.

The chief minister said that investments worth Rs. 39,000 crores through 17 large-scale industries have come to the state in the last three years. He also mentioned that more than 56 major industries would be setting shop in the State in the coming two years.

Speaking on the MSME sector, YS Jagan said that 31,671 industries have invested Rs. 8,285 crore and the government has sanctioned Rs. 1463 crores for the revival of MSME.

The chief minister said that Ambani and Adani are looking at Andhra Pradesh and asserted that Rs. 1.54 lakh worth of investments that employ over 1.64 lakh people would come to the state in the next two years. "Within two months Adani Data Centre is coming up at Vizag and locals will get 75 percent of the jobs," he said and added that AP is the only State with three industrial corridors and nine shipping harbors coming up soon.

Further speaking, YS Jagan said that the Andhra Pradesh government is supporting industrial development with utmost dedication and received awards in 'Ease of Doing Business.' He assured the industrialists that the Government will extend full cooperation if they come forward.

ATC Company CEO Nitin said that AP is number one in terms of ease of doing business. He said that the government is extending full support for the establishment of industries and assured that the unit will be made as the best plant in the world. He informed that the plant is being set up with an investment of 2,200 crores.

State Ministers P Rajanna Dora, B Mutyala Naidu, G Amarnath, Party MLCs, and MLAs were among those who attended the program