Chief Minister Naidu Encourages Mittal Group to Establish Petrochemical Hub in Andhra Pradesh
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Synopsis
At the World Economic Forum in Davos, Andhra Pradesh Chief Minister N. Chandrababu Naidu led a delegation to invite the Mittal Group to set up a petrochemical hub in Bhawanapadu. They also proposed a solar cell manufacturing plant, ensuring the state's full support for these initiatives.
Key Takeaways
- Chief Minister Naidu invited Mittal Group for a petrochemical hub.
- Proposal for solar cell manufacturing plant in Andhra Pradesh.
- Positive response from Lakshmi Mittal on investment initiatives.
- Historic investment of Rs 1.4 lakh crore by ArcelorMittal in Anakapalli.
- NRIs from Andhra Pradesh contributed Rs 40,000 crore in remittances.
Amaravati, Jan 21 (NationPress) A delegation from the Andhra Pradesh government, headed by Chief Minister N. Chandrababu Naidu, has called upon the Mittal Group to establish a petrochemical hub in Bhawanapadu during their engagement at the World Economic Forum in Davos.
The delegation, which included Information Technology and Electronic Minister Nara Lokesh, had a productive meeting with Mittal Group Chairman Lakshmi Mittal.
Minister Lokesh extended an invitation for the Mittal Group to consider setting up a proposed solar cell manufacturing facility in Andhra Pradesh. The delegation assured comprehensive support and collaboration from the state government.
Lokesh shared on 'X' that Lakshmi Mittal showed a favorable response to the state’s proposals.
He expressed gratitude to Lakshmi Mittal for expressing interest in significant investments in the state.
Others present at this meeting included ArcelorMittal CEO Aditya Mittal, Union Civil Aviation Minister Rammohan Naidu Kinjarapu, State Industries Minister TG Bharat, and Andhra Pradesh Economic Development Board CEO Saikanth Verma.
CM Naidu highlighted that ArcelorMittal/Nippon Steel recently made a historic investment of Rs 1.4 lakh crore for a 17.8-million-ton integrated steel project in Anakapalli.
This project is recognized as one of the largest greenfield initiatives in recent history, he noted. Meanwhile, Lokesh also took part in the inaugural ceremony of the World Economic Forum Summit at the Davos Congress Center alongside Union Minister Rammohan Naidu.
The Andhra Pradesh Lounge was inaugurated during this event.
The state minister shared that he and Chief Minister Naidu attended a networking dinner to explore investment opportunities and potential partnerships with global industrialists participating in the World Economic Forum Summit.
This delegation emphasized to the industrialists the favorable investment climate in the state.
Previously, during a meeting with the Telugu Diaspora in Zurich, Lokesh noted that NRIs not only possess a deep emotional connection to the state but are also significantly contributing to Andhra Pradesh’s economic progress.
Highlighting the 2023 statistics from the Reserve Bank of India (RBI), the minister reported that NRIs from Andhra Pradesh remitted Rs 40,000 crore, which is the highest in the nation.
