Southern Indian state Andhra Pradesh (AP) signed 35 MoUs worth a combined INR 3.65 tn (USD 43.8 bn) at last week’s Confederation of Indian Industry (CII) Partnership Summit in Visakhapatnam, Press Trust of India reports, citing state government disclosures. The energy sector accounts for nearly three-quarters of the investment pledges, with total commitments worth INR 2.65 tn (USD 31.8 bn).

The breakdown:

Manufacturing: Two Taiwan-based companies, Allegiance Group and CreativeSensor, together signed MoUs worth INR 184 bn (USD 2.2 bn) for new manufacturing operations, the news service added. The state also secured MoUs across electronics, food processing, textiles, and chemicals, contributing to a broader industrial pipeline.

Fertilizers: Coromandel International, part of the Tamil Nadu-based Murugappa Group, will invest INR 20 bn (USD 240 mn) to set up a fertilizer plant in Visakhapatnam. The 35 MoUs are expected to create 126k jobs, the state government says. The agreements were finalized as part of the CII Partnership Summit, which was held on 14-15 November in Visakhapatnam.

Among other investment pledges made alongside the summit, per the Hindu Businessline:

  • The Adani Group has outlined an INR 1 tn (USD 12 bn) investment pipeline across energy and infrastructure.
  • Brookfield Asset Management has proposed investments worth INR 1 tn (USD 12 bn);
  • Renewable energy company ReNew, backed by Adia and Masdar, plans to invest INR 600 bn (USD 7.2 bn) in new projects, taking its cumulative commitments in the state to INR 820 bn (USD 9.8 bn);
  • New Delhi-based Carbonatic has committed INR 315 bn (USD 3.8 bn);
  • India-based Hero Future Energies has committed INR 300 bn (USD 3.6 bn) for power projects, including planned facilities in Anantapur, Kadapa, and Kurnool;
  • Jindal Steel & Power has announced an INR 300 bn (USD 3.6 bn) steel plant;
  • Reliance Industries plans to set up a 1 GW AI data center in the state, rivalling a similar pledge by Google;
  • Aurobindo Pharma pledged INR 30 bn (USD 360 mn) through its ongoing Penicillin-G facility in Kakinada and a greenfield injectables plant in Visakhapatnam costing around INR 6 bn;
  • INR 10.75 bn (USD 130 mn) is coming from JSW Group for an iron-ore mining joint venture with APMDC, as well as INR 81.04 bn (USD 976 mn) for a 1.5 GW hydro-storage power project through JSW Neo Energy;
  • Tata Electronics is in talks with the Andhra Pradesh government on potential electronics and semiconductor projects.

Long-term targets: Chief Minister N. Chandrababu Naidu said the state aims to attract INR 83 tn (USD 1 tn) in investments over the next decade, with efforts underway to secure INR 41.5 tn (USD 500 bn) in the next three years, the daily added.

The region also has interest in large scale oil and gas projects, including a planned INR 1 tn (USD 11.4 bn) greenfield refinery and petrochemicals complex near Ramayapatnam by state run refiners Bharat Petroleum Corporation and Oil India, with Saudi Aramco in talks for a 20% stake.

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