The Chief Minister signs investment MoUs worth about Rs. 500,000 crore, with different corporations.
The state government, on Thursday, signed a Memorandum of Understanding with different companies, which will invest about Rs. 5,000 crore in the state.
GMR Holdings Pvt. Ltd. will invest Rs. 30,000 crore in a refinery and petrochemicals complex. It is estimated to create about 2,000 jobs.
Further, GMR Infrastructure Ltd. will invest Rs. 3,000 crores in a multi-products SEZ, which is supposed to create nearly 4,000 jobs.
GMR's Business Chairman G Kiran Kumar signed the MoU in the presence of Chief Minister N Kiran Kumar Reddy, on Thursday.
Similarly, B R Shetty & Group is investing Rs. 30,000 crore in a petroleum refinery at the PCPIR Region in Visakhapatnam. The project is set to create an estimated 3,000 jobs. B R Shetty was present during the signing of the MoU.
Birla Surya Ltd is investing Rs. 22,000 crore in an advanced solar photovoltaic project, which has an employment potential of 7,000 jobs.
Birla Education Ltd. is investing in integrated education, employment, technology, infrastructure, and industry development, with Rs. 2,000 crore, and is estimated to create 40,000 jobs.
Birla Research & Life Sciences Ltd. is investing in a global integrated Ayurveda complex with Rs. 704 crores, which can potentially create 4,500 jobs. The Birla Group chairman Yash Birla was present to sign the MoU with the state government.
In all, the state government signed investment MoUs worth more than Rs. 5,00,000 crore on Thursday.(INN)