Andhra signs MoUs worth Rs 10.4 lakh crore at Partnership Summit

Andhra Pradesh received a windfall with the signing of MoUs worth about Rs 10.4 lakh crore with various companies during the two-day Partnership Summit here.

Beating its own expectations, the host state signed 665 memorandums of understanding (MoUs). While 128 MoUs worth about Rs 4.25 lakh crore were signed on the first day Friday, the concluding day saw signing of majority of the MoUs worth Rs 6.15 lakh crore.

According to Chief Minister's office, this investment will generate employment for 22.5 lakh people in the state.

Chief Minister N. Chandrababu Naidu said the MoUs in the oil and gas sector alone were worth Rs 1.43 lakh crore.

The state attracted investment proposals worth Rs 1.29 lakh crore for Amaravati, the upcoming state capital. The government signed 62 MoUs for various projects in the capital region.

Delegates from 51 countries are participating in the two-day event.

Six Union Ministers participated in the deliberations on the first day.

 

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