WEF 2022: Adani Group Signs MoU With AP, To Invest Rs 60K Crore In Green Energy Projects

AP At WEF 2022,  DAVOS: On day two of the World Economic Forum Summit in Davos, the Government of Andhra Pradesh signed a Memorandum of Understanding (MoU) with Adani Green Energy to set up two Mega Green Energy projects in the State.

The Adani Group plans to invest around Rs 60,000 Crore for establishing a 3,700 MV hydro storage project and a 10,000 MW Solar Power Project in the State which will provide 10,000 direct and indirect jobs for the youth.

Special Chief Secretary (Industries) R Karikala Valaven on behalf of Andhra Pradesh and Ashish Rajvanshi from Adani Green Energy exchanged the MoUs to this effect in the presence of Chief Minister YS Jagan Mohan Reddy and Adani Group of Companies Chairman Gautam Adani on Monday. 

AP CM YS Jagan meets trade delegates, explores investment opportunities  in shipping, bioethanol projects

On the sidelines of the Forum, heads of various Corporates met  Chief Minister YS Jagan Mohan Reddy and had explored trade opportunities in the State with shipping and logistics and setting of bioethanol plant being agreed upon on the second day of the World Economic Forum (WEF) Summit being held here on Monday. 

Captains of Tech Mahindra, Dassault Systems, Mitsui OSK Lines and Hero Group had met the Chief Minister at the AP Pavilion and held discussions with the Chief Minister. Tech Mahindra CEO and MD, CP Gurnani said his Company will be working with Andhra Pradesh Government in the field of Skill Development.

The Chief Minister wants to develop Visakhapatnam as Technology hub with focus on Artificial Intelligence (AI) and sought investments in that sector.
In three months, we will be working with Andhra University in drafting syllabus for high-end technology for skill development, he said. The Chief Minister said that besides a Skill University, 30 Skill Colleges and 175 Skill hubs would be coming up in the State. Tech Mahindra subsidiary Assago Industries Pvt Ltd. would set up a Rs 250 crore ethanol manufacturing unit in the state.

Executive Vice President of Dassault Systems, Florence Verzelen also interacted with the Chief Minister who explained the various opportunities in skilling, technology, and ports. "We had meaningful talks with the Chief Minister on skill development and new age energy. We are interested in investing in the education sector and are looking forward to partnering with the State of Andhra Pradesh," she said. 

Later, a Swiss Parliament Member of Indian origin Niklaus-Samuel Gugger along with his team met the Chief Minister and discussed trade opportunities in Andhra Pradesh.

Others who met the Chief Minister include, Mitsui OSK Lines President Takeshi Hashimoto and Hero group CMD Pawan Manjul. Hashimoto has said that they have discussed opportunities in the areas of shipping and logistics. The Chief Minister said to focus on the container hub and logistics. The four new ports would increase the shipment cargo to 507 metric tons annually.  Andhra Pradesh has great potential and we plan to expand our Indian operations as the State has a long coastline. The four new seaports coming up in the State make the atmosphere more conducive for trade.

The Hero group CMD discussed the expansion plans in the State and providing water to its Tirupati facility. There was also discussion on the growing need for electric vehicles.

Also Read: Jagan at Davos: Swiss MP, Dassault EVP and Tech Mahindra CEO Meet AP CM