Amaravati attracts Rs.1.4 lakh crore investment

Amaravati, February 2: The two-day Partnership Summit held in Visakhapatnam last week proved a boon on to the new Capital of Andhra Pradesh as it was able to muster greater investment flow.

Andhra Pradesh Capital Region Development Authority (APCRDA) signed 65 MoUs with various organizations to mobilise about Rs 1.4 lakh crore and create 2.01 lakh jobs in Amaravati.

 While the total two-day summit had resulted in the AP government singing 665 MoUs worth Rs 10.54 lakh crore, the APCRDA alone signed 65 of them worth Rs 1.4 lakh crore across 11 industry sectors.

Out of the 14 departments that have signed MoUs during the two days, the APCRDA stood in sixth place after food processing with 177 MoUs, followed by Industry department with 91 MoUs, Tourism with 69, IT with 67 and AP Economic Development Board with 66 MoUs.

Among the 65 MoUs that have been signed for Amaravati, Infrastructure development registered about 64% investments from globally acclaimed industry players. On the total number of potential jobs creation front, Infrastructure, Mixed-use real estate and Healthcare sectors stood the top three with about 28%, 27% and 20% jobs respectively to be created through their investments.

“We are extremely delighted by the interest industry has shown in partnering for the development of a World-Class capital city for the State. Amaravati, indeed, has achieved another milestone in realizing its vision of ‘the People’s Capital’ through the participation and commitment of business stakeholders,” said APCRD Commissioner  Cherukuri Sreedhar.

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