Business Today

Andhra Pradesh on MoU-signing spree; Adani for digital infra project, India's largest FDI

One of the two MoUs was to announce Adani group's foray into the digital infrastructure space and the other was about Asia Pulp & Paper and Andhra Pradesh Economic Development Board.

twitter-logo E Kumar Sharma        Last Updated: January 10, 2019  | 23:29 IST
Andhra Pradesh on MoU-signing spree; Adani for digital infra project, India's largest FDI

Nara Chandrababu Naidu-led Andhra Pradesh government was on an MoU-signing spree on Wednesday. One was to announce Ahmedabad-based infrastructure conglomerate Adani group's foray into the digital infrastructure space and the other was about Asia Pulp & Paper (APP) and Andhra Pradesh Economic Development Board (APEDB) developing a 5 million tonnes per annum greenfield pulp and paper plant in Prakasam district of Andhra Pradesh.

The Adani group, according to a note put out jointly by the state government and Adani group, plans to set up "the world's first 100 per cent renewables powered data center parks'' in and around Visakhapatnam and that the Adani Group is to invest Rs 70,000 crore and "potentially create over 100,000 jobs over 20 years." The note quotes Gautam Adani, Chairman Adani Group as saying:  "It is a very proud moment for us to collaborate with GoAP to develop the world's first green data center parks. Data centers are fundamental building blocks for enabling every aspect of the critical technology infrastructure that India needs to further accelerate its growth. In addition, the Adani group's ability to provide 100 per cent renewable power and its experience in energy management is a critical aspect towards lowering the carbon footprint for an industry that is now the world's largest and growing power consuming industry".

ALSO READ:Andhra Pradesh FM expresses concern over GST Council not consulting state govts

As for the Asia Pulp and Paper project, it is being billed as "India's largest FDI at $3.5 billion".  The MoU was signed by J Krishna Kishore, Chief Executive Officer, Andhra Pradesh Economic Development Board (APEDB) and Suresh Kilam, Executive Director, Asia Pulp & Paper, in the presence of Andhra chief minister N Chandrababu Naidu. Naidu also inaugurated the pylon and laid the foundation stone for the plant at Ramayapatnam, Prakasam District. "Through this MoU, APP will set up a greenfield pulp and paper manufacturing unit in Ramayapatnam, Prakasam district, with a total installed capacity of 5 million MT of pulp, paper and board, subject to regulatory approvals and other requirements,'' a note issued by the APEDB says. The project is apparently spread over an area of 1,000 hectares (2,471 acres) involving a total investment of around Rs 24,000 crore ($3.5 billion), making it "one of the biggest Foreign-Direct Investments (FDI) in the country till date.'' The project will be implemented in two phases and is estimated to provide direct employment to 4,000 workers and indirect employment to about 12,000 workers.

ALSO READ:Kejriwal, Chandrababu Naidu meet in Delhi; discuss grand alliance for Lok Sabha polls

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close