Adani to Tech Mahindra: Jagan clinches Rs 1.25L Cr investment deals at WEF

Amaravati: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has clinched investment deals in key sectors during his meeting with captains of Industries at the World Economic Forum (WEF).

FutureProofing health systems

In a group discussion, CM made a presentation on healthcare being implemented in the state and the measures taken to contain the COVID pandemic. The CM said no one had anticipated the scale and intensity of COVID-19 in our generation, at least, and how the healthcare system had to brace up if such a situation recurred. He decided to make health care affordable and accessible.

ArcelorMittal doubling investments

The state signed MoUs with Adani, Greenko, and Aurobindo. They have pledged to invest Rs 1.25 lakh crore in green energy. A total of 27,700 MW of clean energy will be available in the state. ArcelorMittal, the world-renowned company, has announced that it will invest in green energy. It is doubling its investment in Andhra Pradesh for the first time. Company CEO Aditya Mittal announced it in the presence of Chief Minister YS Jagan Mohan Reddy. ArcelorMittal Group, which specializes in steel, energy, construction, mining, transportation, and packaging, has annual revenues of $ 76.571 billion.

Decarbonised manufacturing

During the summit, the Chief Minister also focused on new generation fuels, ammonia, and hydrogen products. The State government has signed an MoU with Ace Urban Developers to set up a decarbonized manufacturing unit in Machilipatnam. It would help to utilize green energy and produce products with advanced technologies.

Pollution-free policies

The state government has inked a pact with WEF to support industries through advanced manufacturing to reduce pollution, promote ecological balance, utilize green energy, enhance quality, and assist industry in achieving world-class products by emphasizing technology. The state will be connected with the various programs and projects run by the WEF. It will provide support to adding state-of-the-art, pollution-free policies to the industrial sector in the state.

Shipping and logistics hub

The Chief Minister focused on port-based Industrialisation in the state. He discussed it with Dassault Systems and Mitsui OSK Lines. The Chief Minister detailed the Export Promotion Policy, which was announced earlier. Mitsui OSK Lines President Takeshi Hashimoto announced that they have discussed opportunities in shipping and logistics and will be focusing on the container hub and logistics.

Vizag as Tech hub

The state is giving special attention to Visakhapatnam. Tech Mahindra has come forward to partner with Andhra University for drafting the curriculum. After interacting with the Chief Minister, Tech Mahindra CEO and MD, CP Gurnani, said the Chief Minister wants to develop Visakhapatnam as a technology hub with a focus on Artificial Intelligence (AI). They were also discussions held with IBM CEO Aravind Krishna and discussed technology and skill development to transform Vizag into a technology hub.