Andhra signs MoUs worth Rs.1.95 lakh crore

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Visakhapatnam, Jan 11 (IANS) Andhra Pradesh has signed MoUs with various companies involving investment of Rs.1.95 lakh crore, an official said.

The government signed 32 MoUs with various firms on Sunday, the first day of a three-day CII Partnership Summit here.

This investment is expected to create employment for 95,000 people.

In energy sector alone, 22 MoUs worth Rs.1.55 lakh crore were signed. The proposed power plants will generate 17,472 MW.

Though Andhra Pradesh is already a power surplus state, it has received new investment proposals in both conventional and renewable energy sectors.

The other major pacts inked by the state include the one with Anil Ambani-led Reliance Group which has come forward to develop naval shipbuilding facility here with an investment of Rs.5,000 crore.

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The state also signed an MoU with Bharat Forge, which will develop Rs.1,200 crore integrated auto component park in Nellore district.

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