AP Signs 3 MoUs At The World Economic Forum Meet In Davos

26 May, 2022 10:00 IST|L Manisha

Davos: Andhra Pradesh Government signed three MoUs for generating green energy while Vizag Pellet Plant got Rs 1,000 crore investment towards expansion and big-ticket company heads held a discussion with Chief Minister YS Jagan Mohan Reddy on the third day of the World Economic Forum (WEF) summit being held here on Tuesday. 

ArcelorMittal -Nippon Steel India has confirmed a proposed investment of Rs 1,000 Crore towards the brownfield expansion of its Vizag pellet plant in Andhra Pradesh. The planned expansion will increase pellet production capacity at Vizag by 35 percent. 
The State government has signed an MoU with Aurobindo Reality Infrastructure Private Limited for generating 6,000 MW of green energy. Special

Chief Secretary Karikal Valaven signed on behalf of the State while Aurobindo Director Sharatchandra Reddy signed on behalf of the Company. 
The second MoU was signed between the State and Greenko for generating 8,000 mw green power. Karikal Valaven and Anil Chalamsetti of Greenko inked the pact. 

The third MoU was signed with Ace Urban Developers for setting up decarbonized manufacturing unit at Machilipatnam. Karikal Valaven and Anil Chalamsetti were the signatories.  

The Chief Minister met Bahrain Finance Minister Salman bin Khalifa Al-Khalifa and discussed about exports and investments in the field of education. 
Rajan Anandan, Managing Director of Sequoia Capital also met the Chief Minister and held discussions on start-ups eco system development and starting operations in Andhra Pradesh. 

Luc Remont of Schneider Electric Global met the Chief Minister and discussed transforming Andhra Pradesh into a manufacturing hub to cater to the national and international needs and the Chief Minister told him about the growing demand for green energy and the potential the State has.
Jubilent Group Chairman Hari Bhartia discussed with the Chief Minister on the possibility of investments in food processing units while Aditya Mittal said that ArcelorMittal would invest $ 600 million in green energy. This was told after his participation in the panel discussion on Decarbonize economy.

 The Chief Minister also met IBM CEO Aravind Krishna and discussed technology and skill development ideas to transform Vizag into a technology hub.

Also See: Day 3: Investments Galore For AP, CM YS Jagan Meets NRI Biz Leaders At WEF in Davos

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