Rs 6.83 lakh crores investment windfall for Andhra ahead of CII summit


VISAKHAPATNAM: In an indication that the second edition of the CII Partnership Summit in Andhra Pradesh, beginning here on Friday, would turn out to be a major windfall for the state, companies have sent proposals entailing a total investment intent of around `6.83 lakh crore by Thursday evening.

“For this year’s CII Summit, as many as 425 companies have sent proposals to invest around `6.18 lakh crore in the state,” HRD minister Ganta Srinivasa Rao said.  The government has received new investment proposals in industry, infrastructure, capital region, urban development, energy, tourism and IT sectors, he explained. Union finance minister Arun Jaitley will inaugurate the event.

Union commerce and industries minister Nirmala Sitharaman, among six Central ministers, CEOs representing around 100 global companies including Reliance, Walmart, Aditya Birla Group, Bharat Forge, Essar, Mitsubishi Suzlon, Apollo Hospitals, Fortis are expected to attend the summit.