Andhra Pradesh gets Rs 10,350 crore expo investments

VIJAYAWADA: Andhra Pradesh has attracted investment offers running to over Rs 10,350 crore at Dubai Expo 2022. Minister for industries Mekapati Goutham Reddy said that the state’s ‘Investment docket with a compendium of investible projects’ at the India Pavilion in the expo has evoked encouraging responses. The state team also had advanced discussions with major firms to finalize investment interests in gypsum board building materials, automotive and batteries, food processing, consumer and industrial packaging unit, development of pre-fabricated structures, delivering digital solutions across healthcare, cloud governance, utilities, education, and industrial automation using AI and ML technologies and setting up of tertiary multispecialty hospital as part of the state’s health hubs. The minister pointed out that there were productive discussions with the large state-owned financial holding companies like Mubadala Investment Company, Abu Dhabi Investment Authority, KAAF Holdings, Standard Chartered Bank, Family Offices and Abu Dhabi Global Markets, which evinced interests in projects generating an ROI of 13-15% in specific investable projects. The state’s high-level delegation included the special representative of the government in the Middle East and Far East region Zulfi Ravdjee, special chief secretary R Karikal Valaven, vice-chairman and managing director of APIIC) J.V.N.