Investments in AP for energy storage systems, LNG terminal and crude oil refinery

The Chief Minister on his UAE visit met business leaders in the Gulf countries and spoke about investment opportunities in the emerging state of Andhra Pradesh.

Sri Nara Chandrababu Naidu mentioned about the State’s aims to grow at 15% for the next 15 to 20 years and that the natural resources, water and power supply are in abundance and the use of digital technology and real-time governance are leading the State towards fast development.

The Abu Dhabi Investment Authority (ADIA) is investing one lakh billion dollars on development of infrastructure in the state. Mubadala Development Company, which is US based has expressed willingness to invest in the energy storage system.

The APEDB signed an MoU with Al Ajraf Group Holding Company (Kuwait) for setting up a liquefied natural gas terminal and a greenfield crude oil refinery and petrochemical complex in AP.

The State government also signed an MoU with the Sheikh Mohammed Bin Tahnoon Al Nahyan, the ruler’s representative of the eastern region of the UAE. The agreement ensures direct investment to AP for setting up wellness resorts, involving an investment of $60 million. It is expected to generate 750 direct jobs.

Emirates Airlines had expressed its interest in making AP an integrated logistics hub for Emirates. Vizag, Amaravati and Tirupati will soon be connected to Dubai. The team from Emirates showed interest in four proposals: The development of an airport; the connection to three cities; making AP a hub for Emirates and the establishment of an aviation academy in AP.

UAE-based DP World Group chairman expressed his interest on establishing a logistics operations centre in the State.