Oppn finds investors’ support hard to digest: AP Minister

Visakhapatnam: Andhra Pradesh Industries Minister Gudivada Amarnath on Monday dismissed as false and unfounded the criticism made by Opposition parties on MoUs signed at the recently held Global Investors’ Summit (GIS).

“They are unable to stomach the overwhelming response from investors to the brand value and credibility of Chief Minister Y S Jagan Mohan Reddy and the promotional campaign made by the official machinary to showcase opportunities in 14 focus sectors,” he told the media here.

He said the State’s potential including its 974-km coastline and other advantages for investment like agro products, seafood, electronic components and renewable energy were never highlighted in the past in such a manner before and after the bifurcation.

Amarnath said Reliance Industries Ltd (RIL) itself will invest Rs 40,000 crore in 10 GW solar power plant. During his address at the Vizag summit, billionaire Mukesh Ambani also disclosed investment of another Rs 40,000 crore in rolling out 5G services after spending Rs 1.50 lakh crore over the years in Krishna-Godavari (KG) basin.

The Minister said they had so far achieved a realisation of 89 per cent in past three and half years and are confident of retaining the track-record in implementing 352 MoUs signed at the summit with a proposed investment of Rs 13 lakh crore generating six lakh jobs.

Amarnath said the State had the advantage of three industrial corridors passing through it with a land bank of 48,000 acres, highest exports of 1.44 lakh crore in 2021-2022 with a growth rate of 11.43 per cent.

He said the Chief Minister promised that he is just a phone call away for the investors to facilitate early grounding of their projects. He said a committee led by the Chief Secretary will meet every week to monitor the progress on implementation of the MoUs.