AMARAVATI: Chief minister YS Jagan Mohan Reddy’s maiden visit to Davos to attend the World Economic Forum conference has turned out to be a major success as the state government has signed MoUs for investments to the tune of 1.25 lakh crore.
The chief minister’s focus on green energy prompted steel baron Aditya Mittal of Arcelor-Mittal to announce doubling of its investments in the state. The group has presence in steel, transport, energy, mining, packaging and construction sectors with an annual turnover of $76,000 billion.
Jagan signed off his Davos visit on Thursday after meeting investors from different big league industries. Mittal, who lauded AP’s industrial policies as “one of the best in the world”, said they decided to make more investments in the state after scouting for suitable locations in 27 nations. The group is also making big investments in the Kurnool pumped hydro storage power station. With the state government deciding to set up an exclusive special economic zone for green energy in Machilipatnam, Ace urban development infrastructure signed an MoU with AP to develop the SEZ for green energy. The chief minister’s focus on environmental issues also attracted the attention of global firms who have agreed to look at AP for their future projects.
“AP is going to be the hub of green energy as it has signed MoUs to set up pumped storage power plants which can generate over 27,700MW of power. Niti Aayog CEO Amitab Kant also lauded the chief minister’s focus on decarbonising the energy sector with innovative plants in solar, hydro and wind power,” said special chief secretary (industries) Karikal Valaven. He said the state government also signed an MoU with WEF to share technology and its platforms. The MoU with WEF is considered to be very crucial in attracting investments in future, he added.
Industries minister Gudivada Amarnath said the CM has also set his focus on multiplying investments in port and transport sectors, keeping in view four upcoming ports in the state
