Adani Group to invest Rs 9,000 crore in Andhra Pradesh

Vizag Feb 24: Andhra Pradesh would get another Boost as Adani a top industrialist in the country has announced its investment plans in AP. The Adani Group has said that "It will invest Rs 9,000 crore in projects across different sectors in Andhra Pradesh."

The decision in this regard was announced By Gautam Adani, chairman, Adani Group during the inaugural session of 'CII Partnership Summit' in this coastal city.He has added that "the investment would be made in the State over the next five years."

The Group has signed several Memorandums of Understanding (MoU) with the Andhra Pradesh government in this regard. The Company has also announced that " the company would develop a greenfield seaport at Bhavanapadu in Srikakulam district and would set up a 1,000MW renewable energy project and battery storage facility in the State."

The move assumes significance because recently Indias No1 Industrialist Mukesh Ambani has announced to set up a reliance Jio Phone Manufacturing unit in AP.