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3h ago

Andhra Pradesh Sets Stage for Vizag Summit, Says $120 Billion in Agreements Will Be Formalised

Naidu told India–Europe delegates the state will assign escort officers and clear projects within 45 days as it pushes marquee tech and energy investments and job creation.

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Overview

  • The two‑day CII Partnership Summit in Visakhapatnam on November 14–15 is slated for MoU exchanges and groundbreakings, with officials expecting 410 agreements totaling about $120 billion to be formalised.
  • At a pre‑summit India–Europe roundtable, Chief Minister N. Chandrababu Naidu pitched a “Speed of Doing Business” model that promises rapid approvals and dedicated facilitation for investors.
  • State leaders highlighted planned flagship projects including Google’s AI/data centre in Visakhapatnam with a subsea cable link to Singapore, an ArcelorMittal‑Nippon Steel plant in Anakapalli, a BPCL refinery, and an NTPC green hydrogen hub.
  • The government says projects tied to the summit could generate roughly 750,000 jobs, with a broader goal of creating two million jobs over five years and attracting $1 trillion in investments.
  • The summit program includes addresses by national leaders, international delegations, an MoU on Vijayawada–Singapore flights, inauguration of a WEF Centre for Frontier Technologies, and foundation stone events including a Google project and a Lulu Mall.