(Online Desk)
The Andhra Pradesh Economic Development Board signed various Memoranda of Understanding (MoU) in the presence of Chief Minister N Chandrababu Naidu, on Sunday at Velagapudi, Amaravati.
These MoUs were signed by Chief Executive Officer of AP Economic Development Board (APEDB), J Krishna Kishore and representatives of these companies in the presence of Chief Minister of Andhra Pradesh
The APDEDB, chaired under the Chief Minister is responsible for sustainable economic growth through trade, investments, partnerships and collaborations in the state of Andhra Pradesh.
These MoUs would fructify into the investment potential of Rs. 21,000 crores and generate direct employment of around 57,000 and indirect employment of around 1,65,000.
The details of some of the MoUs are:
1. Maruti Ispat & Energy Private Limited
Maruthi Ispat and Energy Private Limited is in the business of steel, power and textiles.
a. Activity: MS Steel and Alloy Steel Manufacturing plant
b. Investment: Rs.1227.01 crores
c. Employment- Direct: 1,180, Indirect: 3,250
d. Land Requirement: 200 acres
e. Location: Kurnool
2. Telugu Pharmaceutical & Chemicals Association
Members & Intermediaries of the Telangana Pharmaceutical & Chemicals Association have proposed to form the Telugu Pharmaceuticals & Chemicals Association to invest in several pharmaceutical companies in the State.
a. Activity: Setting up cluster of MSME Pharma Companies
b. Investment: Rs. 9000 Crores
c. Employment- Direct: 45,000 Indirect: 1,50,000
d. Land Requirement: 1,100 acres
e. Location: Prakasam
3. Hewlett Packard India (HP)
Hewlett Packard India is global leader in IT, technology & enterprise products, solutions and services.
a. HP, APEDB and the AP Innovation Society are collaborating to set up a state of art centre of excellence centred around 4th IR Technologies such as additive manufacturing.
b. The Innovation centre is envisioned to cater to skilling the youth of AP for the future of sustainable production, provide advanced manufacturing and prototyping services to all MSMEs, industries, entrepreneurs and craftsman.
c. The centre will also bring on board other partners to cater to the needs of innovators and entrepreneurs in the state.
4. ZTT India Private Limited
ZTT Group is a leading player in optical fiber communication since the early 1990s. With decades of experience and a strong positioning in high-tech market segments, ZTT is active in the development, design, production, supply and installation of wide application ranges in telecom, power, renewable energy and oil & gas.
a. Activity: Optical Fibre Cable Manufacturing
b. Investment: Rs. 700 Crores
c. Employment- Direct: 400 Indirect: 250
d. Land Requirement: 30 acres
e. Location: Sri City, Chitoor
5. Ojovati Pte Limited
Ojovati is headquartered in Singapore and is in engaged in the business of Lithium-ion cell manufacturing. They have a JV with Alloy Industries, Japan for technology transfer in lithium-ion and battery technology.
a. Activity: Lithium-ion cell manufacturing
b. Investment: Rs. 1,600 Crores
c. Employment- Direct: 700, Indirect: 500
d. Land Requirement: 40 acres
e. Location: Sri City, Chittoor
6. Avanze Inventive Private Limited
Avanze is in the business of building energy storage solutions and is headquartered in New Delhi.
a. Activity: Lithium Ion Battery Manufacturing (Cathode and Anode compounds processing with electrolyte and separator manufacturing)
b. Investment: Rs. 1,800 Crores
c. Employment- Direct: 900 Indirect: 1000
d. Land Requirement: 150 acres
e. Location: Sri City, Chittoor
7. Godavari University
Godavari University is a private university that offers technical and scientific scholastic courses to students in Andhra Pradesh.
a. Activity: A Private University that offers Technical and Scientific scholastic courses in Petroleum Studies, Computer Science, Business Studies, Agricultural Studies, Medical Liberal Arts, 7000 Students to be covered in 10 years
b. Investment: Rs. 710 Crores
c. Employment- Direct: 3000 Indirect: 1000
d. Land Requirement: 75 acres Acres (In the possession of Investor)
e. Location: West Godavari
8. Accolite India Private Limited (in association with a Government University in South Africa)
Accolite, a leading IT services company in Dallas, US, provides consulting services and product selection.
a. Activity: A Center of Excellence in the existing Govt/Pvt University that aspires to promote scholastic programs, applied research and R&D Centers of Sports equipment, wear and accessory manufacturers; 8000 students to be covered by 2024
b. Investment: Rs. 90 Crores
c. Employment- Direct: 138 Indirect: 65
d. Land Requirement: 10 Acres
e. Location: Amaravati Or Ananthapur (To be decided)
9. Silver Oaks International School
Silver Oaks International School is among the finest International schools in Hyderabad as well as India
a. Activity: An International Baccalaureate School in Amaravati
b. Investment: Rs. 30-35 crores
c. Employment: Direct & Indirect: 500
d. Land Requirement: 6 Acres
e. Location: Amaravati
10. Shreyantra Industrial Hemp Andhra Private Limited
Shreyantra is in the business of industrial hemp cultivation and processing and wishes to invest in Andhra Pradesh
a. Activity: Setting up Industrial Hemp park (Cultivation of industrial hemp)
b. Investment: Rs. 1,000 Crores
c. Employment- Direct:1500 & Indirect: 2000
d. Land Requirement: Contract farming on privately owned/leased land
e. Location: Contract farming on privately owned/leased land at various locations
11.Dream Valley Group was established in the 1983 as resort, hospitality and recreation chain. The Group has expanded into golf arena with its golf project in Vikarabad.
a. Activity: Adventure and Entertainment Park, 5 Star Golf Resort with 18-Hole Championship Golf course and club house along with premium residential units
b. Investment: Rs:205 Crores
c. Employment: Direct: 540 & Indirect:1125
d. Location: Across Andhra Pradesh
12. SAPL Industries Private Limited
SAPL is involved in the business of manufacturing and export of garments
a. Activity: Garment Manufacturing Plant
b. Investment: Rs. 39 Crores
c. Employment- Direct: 2200; Indirect: 135
d. Land Requirement: 10 acres
e. Location: Kappalabanda, Ananthapur District
13. A private company is intending to establish LNG Terminal and LCNG fuel stations across 20 locations in Andhra Pradesh
a. Activity: Setting up of LNG Terminal and LCNG Fuel stations in 20 locations of AP
b. Investment: Rs. 4,800 Crores
c. Employment- Direct: 350 & Indirect: 350
d. Land Requirement: LNG Terminal- 90 acres
e. Location: LNG Terminal: Kakinada, LCNG Fuel Stations: Various locations
14. Wicked Rides
Wicked Rides Adventure Services Limited is India’s largest motorcycle rental startup which also owns a utility brand called Bounce which is an urban commute brand. Bounce allows users to pick up scooters from anywhere and drop it off at their destination.
a. Activity: Rolling out “Bounce” smart two wheeler urban mobility services and “Wickedrides” Bike Tourism services in AP.
b. Investment: Rs. 118 Crores in 2 phases
c. Employment- Direct: 1250 & Indirect: 5000
Bounce currently has over 5000+ scooters in Bangalore and 2500+ overall at 15 cities in India. Recently it has raised a funding of 12.2 Million USD (INR 84 Crores) from Accel and Sequoia in its latest investment round. Bounce has also launched bicycles and electric bicycles called pedelecs. The company plans to introduce kick scooters across the city, especially in corporate and educational campuses, as it targets a market opportunity of $4.5 billion in the shared mobility space.
Krishna Kishore said, “Andhra Pradesh is poised to catalyze investments in manufacturing owing to robust infrastructure for connectivity, enabling policies, integration with global value chains and a skilled and ready work force.”
“These investments are a testimony to the Chief Minister’s development agenda and gives fillip to the AP approach to rapid industrialization.” he added.