AP Industrial Boom: 16 Companies Sign ₹6,742 Cr Agreements in Kakinada

Sixteen companies have signed investment agreements worth Rs 6,742 crore with the Andhra Pradesh government and the Economic Development Board at the CII regional summit held at Jawaharlal Nehru Technological University, Kakinada, with the proposed projects expected to create 18,000 work opportunities.

Of the proposed investments, four projects worth Rs 2,090 crore have already been grounded. Separately, 35 projects worth Rs 295.33 crore were grounded or inaugurated, comprising 24 foundation ceremonies and 11 inaugurations. These included SAF One’s sustainable aviation fuel plant in Kakinada and 31 MSME units across Kakinada and East Godavari districts. Foundations were also laid for 15 MSME parks involving an investment of Rs 161 crore.

According to the state government, the Visakhapatnam and Kakinada events together secured 46 memoranda of understanding (MoUs) worth Rs 25,754.61 crore, with the potential to generate 71,206 work opportunities.

Major investment proposals include AM Green’s Rs 56,000 crore green ammonia and aluminium project, Waaree’s Rs 15,000 crore green ammonia plant and John Cockerill’s Rs 2,000 crore electrolyser manufacturing facility.

News by Rahul Yelligetti.