A Memorandum of Understanding (MoU) has been signed by the government of Andhra Pradesh with Adani Green Energy to institute two epic green energy projects in the state. An MoU was reached to this effect on the 2nd day of the World Economic Forum Summit in Davos on the 23rd of this month. The Adani group is making arrangements to invest around Rs 60,000 crore for setting up a 3,700 MV hydro storage project and a ten thousand megawatt solar power project in AP which would offer 10,000 direct and indirect jobs for the youth.
The papers were swapped by the special chief secretary R. Karikala Valaven and Ashish Rajvanshi from Adani Green Energy, on behalf of the chief minister of the state YS Jagan Mohan Reddy, and the chairman of Adani Group companies Gautham Adani. 30 skill colleges and 175 skill hubs would be coming up in the state besides a Skill University, said Jagan. He also announced that Tech Mahindra subsidiary Assago Industries PVT ltd would set up a Rs 250 crore ethanol manufacturing unit in AP.
It is said by CP Gurnani, who is the CEO and MD of Tech Mahindra that his firm would be working with the state government in the skill development sector as the CM deserves the development of Visakhapatnam as a technology hub with a focus on artificial intelligence and sought investments in the sector.
The chief minister has also met with a Swiss Parliament member of Indian origin Niklaus Samuel Gigger and discussed trade opportunities in the state. Jagan told Hashimoto that 4 new ports would reinforce the shipment cargo and called for a focus on container hub and logistics.