AP And Its Coastal Region Will Move Ahead In The Race For Development: Sarbananda Sonowal

Union Minister Sarbananda Sonowal Speech At Visakhapatnam Summit - Sakshi Post

AP Global Investors Summit 2023: Global Investor Summit 2023 by the Andhra Pradesh government continued to receive a series of investment proposals on the second day today which received a tremendous response from investors and global companies. Another set of 260 MOUs was signed today taking the total to 340 investment proposals worth Rs13 lakh crore.

Sarbananda Sonowal, Union Minister of Ports, Shipping & Waterways, and AYUSH, Government of India underlined the continued support extended by the central government for the development of infrastructure projects in Andhra. “Under the PM’s initiative of Sagarmala more than 110 projects worth around Rs 1.1 lakh crores have been identified for implementation in the state of Andhra Pradesh of which 35 projects of Rs 32,000 Crores have already been completed, said Sonowal. For the upliftment of the fishermen community, 5 fishing harbour projects worth Rs 1,500 crores have been sanctioned for funding under the Sagar mala program. The PM Gati Shakti plan has not only accelerated the pace of infrastructure but has also reduced the cost of projects. The multimodal transport system is the future of logistic.  AP and its coastal region will move ahead in this race for development with new momentum.

G. Kishan Reddy, Union Minister of Culture, Tourism, and Development of North Eastern Region, Government of India highlighted the potential of Andhra. “AP has a competitive advantage in sectors such as marine products and shrimps, drugs and pharmaceuticals, electronics, petroleum, engineering goods, etc. There is a clear opportunity for the state and center to work together in taking AP to new highs, he mentioned . “Our railway budget allocation for AP has increased 9 times from Rs 886 crore in 2014 to Rs8,406 crore now. We will be building 72 world-class railway stations in Andhra. AP is the only state to have 3 industrial corridors passing through the state. The minister added that the total investment cost for Visakhapatnam smart city is Rs 3,000 crore. As far as Visakhapatnam port is concerned it has shown a healthy cargo growth of over 7.5% in this financial year. Following the direction from Ministry, the port is in the process of transforming into a landlord port. Other ports also may comply by 2023. These are 6 projects operating in bs.

AP has a competitive advantage in sectors such as marine products and shrimps, drugs and pharmaceuticals, electronics, petroleum, engineering goods, etc. There is a clear opportunity for the state and center to work together in taking AP to new highs. This will be in the true spirit of competitive federalism where states compete to attract investment and build infrastructure,  Kishan Reddy said while addressing the valedictory session of the AP Global Investors Summit on Saturday.

Also Read: AP GIS 2023: 260 MOUs Worth Rs 1.17 Lakh Crores Signed On Day 2

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