State seek private investors for tourism projects

Adani Group will invest Rs.9,000 crore in projects across different sectors in Andhra Pradesh in the next five years, Chairman Gautam Adani announced on 24 Feb 2018.

The group has signed Memoranda of Understanding (MoUs) with the Andhra Pradesh government on the first day of CII Partnership Summit at Visakhapatnam.

It will develop greenfield seaport at Bhavanapadu in Srikakulam district of the state; a Multimodel logistic Park in Bhavanapadu; and set up of 1,000 MW renewable energy project and battery storage facility in the state.

Andhra Pradesh, which has Isuzu and Kia plants in Chhittor and Anantapur, is aiming to make use of its vast coastline, ports and wide road network to attract investment in the automobile sector.

The firt day of the three-day event saw over 15 industrial houses have signed MOUs worth Rs15,224 crore to set up automobile units in the state.

“The state and the central government have made a concrete strategy to make the east coast as an automotive component making hub,” Commerce and Industry Minister Suresh Prabhu said in his address at the gathering of industry leaders.

In the meantime, Andhra Pradesh Tourism Department is working on six marquee projects which offer tremendous growth and potential for investments.

The State Tourism Secretary Mukesh Kumar Meena said private sector would be invited to participate in a number of projects.

The projects include a Special Tourism Zone at Madhurawada and INS Virat aircraft carrier museum in Visakhapatnam, Havelock Bridge in Rajahmundry, and Bhavani Island in the middle of Krishna River in Vijayawada, Kakinada Hope Island under SwadeshDarshan scheme in East Godavari district, and Gandikota Fort in Guntur district. fii-news.com