VIJAYAWADA: Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy made an impressive and fruitful debut at the World Economic Forum (WEF) Summit in Davos, interacting with industry leaders and securing deals in key sectors.
In addition to discussing investment opportunities in various sectors, the state signed memorandums of understanding (MoU) with major corporations. Adani, Greenko, and Aurobindo have signed memorandums of understanding (MoUs) with the state to invest Rs 1.25 lakh crore in green energy, which is required to make the state a hub for Industrialisation 4.0.
During the final leg of the WEF summit, the CM visited Schindler's Training Centre near Lucerne to learn about the training methods used for skill development. He talked with students about how they had improved their skills. At the location, he used a 1929 lift.
The state will have access to a total of 27,700 MW of clean energy. ArcelorMittal has announced that it will invest in green energy alongside Greenko, and that it will more than double its investment in Andhra Pradesh for the first time. Aditya Mittal, CEO of the company, made the announcement in the presence of Chief Minister Y.S. Jagan Mohan Reddy. He praised the state's industrial policies. The ArcelorMittal Group has annual revenues of USD76.571 billion and specialises in steel, energy, construction, mining, transportation, and packaging, among other things.
During the summit, the CM also focused on new generation fuels, ammonia, and hydrogen products. The state government signed an agreement with Ace Urban Developers to set up a decarbonised manufacturing unit in Machilipatnam, which would aid in the use of green energy and the production of advanced technologies.
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