AP Summit boasts 4.25 lakh crores worth MoUs on day-1
The Dollar Business Bureau On the very first day of the Sunrise Andhra Pradesh Investment Summit being held in Visakhapatnam, a staggering number of 128 pacts were signed, amounting to Rs. 4.25 lakh crore. This new flood of investment in the state is projected to create job opportunities for 5.5 lakh people, majorly in the sectors of mining and healthcare. Some of the big names, which have signed MoUs during the two-day event are Indani Global, Neopharma, Inox Wind, REC, Ceat and NSL Mining. The Sunrise state of India, Andhra Pradesh, has been ranked no.1 in 'ease of doing business' by Department of Industrial Policy and Promotion (DIPP) for 2015-16. Arun Jaitley, Minister of Finance, at the CII Partnership Summit, hailed the state for its impressive growth rate and promised support ...
RINL to invest Rs.38,500 cr on expansion of projects in Vizag
The Dollar Business Bureau Rashtiya Ispat Nigam Ltd (RINL), the corporate entity of Visakhapatnam Steel Plant, has signed an agreement with the Andhra Pradesh government to take up various projects with an investment of around Rs.38,500 crore. The agreement, signed during the ‘Sunrise AP Investment Meet’ being held in Visakhapatnam, aims at creating employment for around 3,000 people. The investments include expansion of RINL to 7.3 million tonnes per annum (MPTA) and modernization with an investment of Rs.3, 600 crore and further expansion to 11.5 - 12 MTPA at an estimated cost of Rs.25, 000 crore. The MoU also ensures construction of Coke Oven Battery-5 and other projects at an investment of Rs.3,400 crore, besides establishment of a slurry pipeline ...
World-class naval facility to come up in Vizag
Reliance Group Chairman Anil Ambani announced the setting up of a naval facility at Rambilli, Vishakhapatnam, with an initial investment of Rs.5000 crore The Dollar Business Bureau The new facility would complement the companys existing plant at Pipavav in Gujarat, with a clear focus on building strategic assets for the Indian Navy. Expanding its existing business, Reliance Group has signed an agreement with the Andhra Pradesh government for the setting up a world-class naval facility at Rambilli along the east coast, 70 kms south of Vishakhapatnam. Reliance Group Chairman Anil Ambani announced the new venture on Sunday while addressing the ongoing two-day investor summit in Vishakapatnam. At an initial investment outlay of Rs.5,000 crore, it will represent the single largest investment at one location ...
