Tirupati, Oct 26 Andhra Pradesh exchanged 67 MoUs for proposed investments of Rs 11,731.6 crore, potentially generating 20,879 jobs, at its fifth and final regional investment conference, officials said.
According to the state Industries and Commerce Department, the conference was held at a private university in Sri City on Monday, covering five districts, where 50 of the 67 MoUs, worth Rs 7,380.68 crore and with the potential to generate 16,612 jobs, pertained to projects in the region, including 18 in Sri City alone, while the remaining 17 were related to other districts.
“The state has exchanged 67 MoUs involving proposed investments of Rs 11,731.68 crore, with the potential to generate 20,879 jobs, at the fifth and final regional investment conference,” an official press release said.
The five regional conferences held across Andhra Pradesh resulted in 195 MoUs with a total proposed investment of Rs 85,561.4 crore, with the potential to generate over 1.5 lakh jobs, it said.
Alongside the MoUs, 68 projects worth Rs 5,714 crore, with the potential to create 13,488 jobs, were grounded or inaugurated. Foundations were also laid for 15 Micro, Small and Medium Enterprises (MSME) parks, and 10 provisional allotment orders were issued.
The conferences were held in Visakhapatnam on October 7, Kakinada on October 12, Amaravati on October 16, Ananthapuramu on October 23 and Tirupati on October 26, ahead of the 31st CII Partnership Summit.
The summit will be held in Visakhapatnam on November 12 and 13 under the theme “Navigating the New World Order: Trade, Technology, Trust and Thought Leadership,” bringing together investors and industry representatives.
The proposed investments at Tirupati span electronics and semiconductors, automotive components, electric mobility, footwear, tourism and hospitality, food processing, clean energy, pharmaceuticals, logistics, information technology and other sectors.
Six electronics and semiconductor MoUs worth Rs 2,105 crore, with the potential to create 4,540 jobs, will strengthen the Sri City, Tirupati and Naidupeta electronics cluster, said the press release.
Syrma SGS Technology will manufacture ultra-high-density interconnect and flexible printed circuit boards and integrated circuit substrates, while Amber Enterprises will establish a consumer electronics unit and Noble Moulds will manufacture plastics and appliances.
SOLUM India Hightech will expand its automotive electronics facility, Teachmint Technologies will assemble interactive flat panels, and Maven Silicon will establish a semiconductor design centre, strengthening the region’s electronics manufacturing ecosystem.
The automotive components and electric mobility sector includes proposals by CIE Automotive India, Nittan India Tech, NS Instruments India and Rockman Industries, alongside an electric fleet and charging infrastructure project by TecSo ChargeZone.
Footwear manufacturer Hilltop SEZ Development India will establish a manufacturing ecosystem in Tirupati district with an investment of Rs 700 crore, potentially generating 3,000 jobs, making it the day’s largest employment proposal.
Tourism and hospitality accounted for 22 MoUs worth Rs 1,538 crore, with the potential to generate 2,812 jobs. Proposals include hotels, resorts, convention centres, a hospitality academy and an immersive spiritual experience zone in Tirupati.
Food processing attracted nine MoUs worth Rs 1,096 crore, potentially creating 2,130 jobs. Projects include poultry feed, chicken processing, frozen dairy products, sauces, beverages, frozen fruits and vegetables, bakery products and other food-related facilities.
Nanda Global Solar proposed an integrated solar photovoltaic manufacturing project in Palnadu district worth Rs 2,500 crore, with the potential to create 800 jobs, it said.
Pharmaceutical proposals include manufacturing expansions and formulation units in Anakapalli and Sri City. Four circular economy MoUs worth Rs 485 crore cover plastic bottle, lithium-ion battery and end-of-life tyre recycling projects.
Logistics and information technology proposals include warehousing facilities at Sri City and Nellore, an artificial intelligence and digital operations centre in Chittoor, engineered timber components manufacturing and packaging units.
A dedicated banking grievance redressal feature was enabled on the Andhra Pradesh MSME One Portal, allowing enterprises to raise and track issues concerning institutional credit, government schemes and other banking services.
The Andhra Pradesh MSME Development Corporation and BSE Limited exchanged an MoU to facilitate equity financing, with BSE aiming to support the listing of 250 small enterprises and start-ups over three years.
The exhibition featured products from 21 MSMEs from Tirupati, Chittoor, SPSR Nellore and Annamayya districts, including packaging, automation, robotics, processed foods, millets, herbal products, handicrafts, printed sarees, jute products and technology solutions.
The state is developing MSME parks under its One Family, One Entrepreneur initiative. Since June 2024, 914 acres in the five districts have been allotted to MSMEs, involving Rs 3,885 crore investment.
Across Andhra Pradesh, 714 projects worth Rs 22.6 lakh crore are in the investment pipeline, with potential employment of 19.3 lakh people. Of these, 267 projects worth Rs 5.9 lakh crore are already on the ground, the release added.
(PTI News)
