Andhra Pradesh converts 74 per cent of investment proposals since June 2024
The state has secured Rs 17.2 trillion in investments and created a potential for 19.3 lakh jobs ahead of the CII summit.
Andhra Pradesh has converted 526 of the 714 investment projects received since June 2024, according to a government statement on Tuesday. This represents a conversion rate of nearly 74 per cent by project count, as reported by Rediff and ThePrint.
The converted projects amount to Rs 17.2 trillion, which accounts for approximately 76 per cent of the state's total investment pipeline of Rs 22.6 trillion. These projects have an employment potential of 19.3 lakh jobs.
Of the total pipeline, 188 projects worth Rs 5.4 trillion are at various stages of consideration. Meanwhile, 303 projects involving Rs 7.1 trillion and 7.7 lakh potential jobs have been grounded or are scheduled for grounding.
Major proposals include NTPC Green Energy’s Rs 1.85 lakh crore green hydrogen hub at Pudimadaka, AM/NS India’s Rs 1.36 lakh crore steel project at Nakkapalli, and BPCL’s Rs 96,862 crore refinery-cum-petrochemical complex at Ramayapatnam. Technology investments include Google’s proposed $15 billion AI hub in Visakhapatnam and Reliance’s Rs 1.08 trillion AI data-centre cluster near Bhogapuram.
The state is preparing to host the 31st CII Partnership Summit in Visakhapatnam on November 12 and 13. The summit, themed 'Navigating the New World Order: Trade, Technology, Trust and Thought Leadership', is expected to host representatives from 58 countries.