Visakhapatnam, Nov 12 (IANS) Andhra Pradesh’s total investment commitments will go up to ₹32.49 lakh crore since June 2024 with the signing of Memoranda of Understanding (MoUs) at the 31st CII Partnership Summit, which began here on Thursday, Chief Minister N. Chandrababu Naidu.
He announced that 303 MoUs involving proposed investments of ₹9.89 lakh crore would be signed at the summit.
The Chief Minister said that over the last two-and-a-half years, Andhra Pradesh secured 714 investment MoUs worth ₹22.6 lakh crore, with 526 projects worth ₹17.1 lakh crore moving towards implementation - achieving a 74% conversion rate.
He claimed that this reflects their commitment to turning investment commitments into projects on the ground.
“Building on this momentum, 303 new MoUs worth ₹9.89 lakh crore are set to be formalised at the 31st CII Partnership Summit, taking Andhra Pradesh's total investment commitments to ₹32.49 lakh crore. These milestones reflect the growing global confidence in Andhra Pradesh and our determination to translate investment commitments into results,” he said.
Addressing the summit, he said 526 projects involving ₹17.10 lakh crore had received land and incentive approvals. As many as 303 projects, with investments of ₹7.30 lakh crore, are ready for the construction stage.
Nearly 58 per cent of the projects that received land and incentive approvals had reached the construction-ready stage.
The Chief Minister explained the investment opportunities, industrial policies and long-term development vision of Andhra Pradesh through a presentation.
Highlighting the State’s focus on emerging and strategic sectors, he said Andhra Pradesh was working towards becoming a major manufacturing and technology hub in areas such as rare earth minerals, steel production, solar wafers, solar energy and battery energy storage.
The State has identified several priority sectors, including the Critical Minerals Mission, Steel Policy, Solar Mission, defence self-reliance, Space Vision, Semiconductor Mission, Logistics Policy, Quantum Technology, Green Hydrogen and Maritime Development.
The Chief Minister said a quantum computer would be established in Amaravati, while quantum equipment would also be manufactured under the 'Made in Amaravati' brand. A dedicated Drone City was being developed to manufacture drones for civilian and defence applications. Drones were already being used to deliver medicines to remote areas.
He said Andhra Pradesh aimed to emerge as a global horticulture hub by attracting investments in food processing and allied industries.
The Chief Minister outlined ambitious targets across key sectors. A target of 160 GW renewable energy generation capacity has been set, with approvals already granted for 114 GW. The State aims to achieve annual electronics production worth ₹4.20 lakh crore. Projects worth approximately ₹31,926 crore have already received approval in electronics and home appliances manufacturing.
An investment target of ₹50,000 crore has been set, along with a separate target of ₹25,000 crore for the space sector. The State aims to attract investments worth ₹30,000 crore in the food processing sector.
Approvals have been granted for 42 GW of solar cell manufacturing capacity and 53 GW of ingot and wafer manufacturing capacity. Data centre projects with a proposed capacity of 4.6 GW have received approval in Andhra Pradesh, against the existing national installed capacity of approximately 1.5 GW.
The Chief Minister said Amaravati was being developed as a Blue-Green Capital City with iconic buildings and advanced technological infrastructure. A quantum computing manufacturing facility would be established across 250 acres in Amaravati. Describing Amaravati Quantum Valley as the first such project in South Asia, he announced that it would be inaugurated on February 3, 2027.
Highlighting Andhra Pradesh's strategic geographical advantage, the Chief Minister said the State was emerging as a leading logistics destination with six operational ports, airports, high-speed rail connectivity and an extensive road network.
Andhra Pradesh currently ranks fourth in the country in cargo handling. Its six operational ports have an annual handling capacity of 346 million tonnes and handled 209 million tonnes of cargo during 2025–26. Four new ports are expected to add another 108 million tonnes of annual cargo-handling capacity.
The Chief Minister said Andhra Pradesh currently had six airports with a combined annual passenger-handling capacity of 1.55 crore. Around 62 lakh passengers travelled through these airports during 2025–26. Plans were underway to develop nine greenfield airports, with Bhogapuram, Amaravati and Tirupati as major aviation hubs.
He also highlighted the proposed 839-km high-speed rail corridors passing through Andhra Pradesh, along with an extensive 4,415-km railway connectivity plan.
