Visakhapatnam Will Be Executive Capital Of Andhra Pradesh: CM Jagan

CM Jagan said that Andhra Pradesh has received 348 investment proposals worth Rs 13 lakh crores

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy said on Friday that Visakhapatnam would be the executive capital of Andhra Pradesh in the days to come and that he would be moving over to the port city.

Speaking at the inaugural session of the Global Investors Summit 2023, which began in Visakhapatnam on Friday, Jagan Mohan Reddy said that Andhra Pradesh has received 348 investment proposals worth Rs 13 lakh crores, creating employment for six lakh people. 

He said, "Reliance, Adani Group, Zindal, NTPC, are expanding their businesses in Andhra Pradesh."

The Chief Minister further said MoUs worth Rs 11.85 crore will be signed today (Friday) and the rest will be formalised on Saturday.

The CM said that exports from Andhra Pradesh have increased significantly and AP is geographically very suitable for industries. Jagan said Andhra Pradesh is consistently voted number one for ease of doing business. He assured that the AP is going to play a key role in green and hydro energy in the future.

Andhra Pradesh has three industrial corridors: the Visakhapatnam-Chennai Industrial Corridor (VCIC), the Chennai-Bengaluru Industrial Corridor (CBIC), and the Hyderabad-Bengaluru Industrial Corridor, all of which have the best infrastructure in industrial parks in various locations.

Top honchos of India such as Mukesh Ambani of Reliance Group, Naveen Jindal of Jindal Steel and Power, GM Rao of GMR Group, and BV Mohan Reddy, founder-chairman of Cyient, are among the corporate giants who attended the Summit. 

Mukesh Ambani in his address said, "We will invest in 10 GW in renewable solar energy in the state of Andhra Pradesh."

Ambani congratulated the Andhra Pradesh government for building a dynamic state. "We are creating the largest and the best digital network footprint in the state by investing over Rs 40,000 crore. Our 4G network covers 98 per cent of the state," he said, while adding that the state will emerge as a leading destination in India's growth story.  Mukesh Ambani said, “Andhra Pradesh is a land of abundance with abundant talent, heritage, and resources."