Visakhapatnam, Nov 10 (PTI) Andhra Pradesh has converted 526 of the 714 investment proposals received since June 2024, representing investments

Visakhapatnam, Nov 10 (PTI) Andhra Pradesh has converted 526 of the 714 investment proposals received since June 2024, representing investments

Visakhapatnam, Nov 10 (PTI) Andhra Pradesh has converted 526 of the 714 investment proposals received since June 2024, representing investments

Visakhapatnam, Nov 10 (PTI) Andhra Pradesh has converted 526 of the 714 investment proposals received since June 2024, representing investments worth Rs 17.2 lakh crore and a conversion rate of nearly 74 per cent by project count, the state government said on Tuesday.

     The converted projects account for about 76 per cent of the state's total investment pipeline of Rs 22.6 lakh crore and have the potential to generate 19.3 lakh jobs, according to a state government statement.

     Of the total pipeline, 188 projects involving investments of Rs 5.4 lakh crore remain at various stages of consideration and conversion.

     Meanwhile, 303 projects involving investments of Rs 7.1 lakh crore, with a potential to generate 7.7 lakh jobs, have either been grounded or are scheduled to be grounded, the government said.

     The investment figures come ahead of the 31st CII Partnership Summit, scheduled to be held in Visakhapatnam on November 12-13. The two-day event is expected to draw delegates from 58 countries, including overseas ministers, international speakers, investors and industry representatives.

     Bharat Forge, Kia, ReNew, RPSG Group, Apollo, Skyroot and GMR are among the corporate groups expected to participate.

     The summit's theme is "Navigating the New World Order: Trade, Technology, Trust and Thought Leadership".

     Andhra Pradesh's investment pipeline includes projects across steel, renewable energy, green hydrogen, petrochemicals, automobiles, aviation, electronics and emerging technologies.

     Among the largest proposals are NTPC Green Energy's Rs 1.85 lakh crore green hydrogen hub at Pudimadaka and AM/NS India's Rs 1.36 lakh crore integrated steel project at Nakkapalli.

     BPCL is developing a proposed Rs 96,862 crore refinery-cum-petrochemical complex at Ramayapatnam in Prakasam district, while Reliance has proposed a Rs 51,300 crore solar and battery storage project in the Anantapuramu region, comprising 6.6 GW of solar capacity and 29 GWh of battery storage.

     Other major projects include Tata Power's Rs 49,000 crore renewable energy investment in Anantapur and ReNew's Rs 22,000 crore hybrid renewable energy project at Guntakal.

     GMR has also proposed a Rs 20,000 crore aviation hub and maintenance, repair and overhaul (MRO) facility at Bhogapuram, spread across 500 acres.

     In the automobile sector, Kia India's manufacturing facility at Penukonda, along with its network of 35 ancillary units, represents investments exceeding Rs 22,000 crore and provides 24,237 direct jobs, according to the government.

     Sri City, another major industrial hub in the state, hosts more than 260 companies from 31 countries. The industrial park accounts for exports of USD 6 billion and provides employment to more than 75,000 people, with women comprising half its workforce.

     The state's proposed technology investments include Google's USD 15 billion artificial intelligence hub and subsea cable landing ecosystem in the Visakhapatnam region, as well as Reliance's proposed Rs 1.08 lakh crore AI data-centre cluster near Bhogapuram.

     The government is also developing Amaravati Quantum Valley, Space City near Sriharikota and Drone City at Orvakal to attract investment in emerging technology sectors.

     Separately, five regional investment conferences organised by the state government in October generated 195 memorandums of understanding (MoUs) involving proposed investments of Rs 85,561.42 crore and an employment potential of 1.56 lakh jobs.

     Another 68 projects worth Rs 5,714.06 crore were grounded or inaugurated during the conferences, with an estimated employment potential of 13,488 jobs.

     The conferences focused on sector-specific opportunities across Visakhapatnam, Kakinada, Amaravati, Ananthapuramu and Tirupati, covering areas such as artificial intelligence, data centres, semiconductors, maritime industries, green hydrogen, quantum technology, aerospace, defence, electronics and space technology.

     Andhra Pradesh's investment performance has also featured in recent assessments of fresh investment proposals.

     A Bank of Baroda study estimated that the state accounted for around 25 per cent of India's fresh investment proposals during the first nine months of FY 2025-26.

     Separately, data shows Andhra Pradesh moving from ninth to second position in fresh investment proposals, with proposed investments of around Rs 8.95 lakh crore in FY2026.

     The state also recorded an increase in foreign direct investment inflows, from USD 92 million in FY 2023-24 to more than USD 600 million in FY 2025-26, according to figures cited by the government.

     The government has attributed the increased investor interest to policy stability, infrastructure development and investor facilitation, under its stated approach of Predictability, Pace and Partnership.

     Its broader investment strategy is linked to a target of generating 20 lakh employment opportunities through public and private sector initiatives, with an emphasis on manufacturing, technology, micro, small and medium enterprises (MSMEs), skill development and entrepreneurship.

     The CII summit is expected to provide a platform for the state to showcase its investment opportunities and engage with domestic and international investors. The key challenge will be to translate the announced investments and MoUs into projects that reach commercial production and generate employment.

(This story has not been edited by THE WEEK and is auto-generated from PTI)