Andhra Pradesh attracts Rs 10.5 lakh crore MoUs atPartnership Summit

VISAKHAPATNAM: Andhra Pradesh, which secured the top rank in World Bank’s ease of doing business apart from double digit growth, has signed memoranda of understanding for Rs 10.54 lakh crore of investments, announced CM N Chandrababu Naidu.

Addressing the 23rd CII Partnership Summit at Visakhapatnam on Saturday, Naidu thanked the administration that strived hard towards stabilising the economy through improving various performance parameters, helping the state more than double MoUs from last Summit.

During the last Summit, the state had signed 328 MoUs for Rs 4.67 lakh crore of investments and claims to have succeeded in converting over 40% of them into reality. The top firms that had signed MoUs this time around include ONGC, GAIL, HPCL and REC translating into nearly `2 lakh crore of investments.