Andhra Pradesh CM invites UAE firms to invest in food processing
Twelve companies from the UAE have expressed interest in investing in a proposed food cluster in the state.
Andhra Pradesh Chief Minister N Chandrababu Naidu invited leading companies from the UAE to explore investment opportunities in the state's food processing sector on Wednesday. The meeting took place in Visakhapatnam with UAE Minister of Economy and Tourism Abdullah bin Touq Al Marri, who is attending the CII Partnership Summit, according to BusinessLine.
Naidu informed the minister that the state government is developing the Rayalaseema region into a global horticulture hub with an investment of Rs 1 lakh crore. He noted that fruits from Rayalaseema are already being exported to international markets and invited the UAE-based agri-food company Silal to join a food cluster proposed by the UAE.
The discussions also included the potential establishment of the Dubai-based Floormaster industry in Chittoor district. Naidu urged the minister to help reach an early decision on the food cluster and highlighted opportunities in the maritime, aerospace, and defence sectors.
Al Marri stated that his country is interested in investing along India's eastern coastline and suggested Andhra Pradesh could be a primary location for UAE investments. He also mentioned that the UAE is looking into importing shrimp and other aquaculture products from the state.
A release noted that 12 UAE-based companies have shown interest in investing in the proposed food cluster in Andhra Pradesh.