DAVOS: At the World Economic Forum (WEF) meeting, the Andhra Pradesh government inked three memorandums of understanding (MoUs) for generating green energy, while big-ticket company executives held discussion with Chief Minister YS Jagan Mohan Reddy.
ArcelorMittal Nippon Steel (AMNS) India stated on Tuesday that it will invest Rs 1,000 crore in expanding its pellet plant capacity in Andhra Pradesh. The release stated, "ArcelorMittal Nippon Steel India has confirmed a proposed investment of INR 1,000 crore in brownfield expansion of its Vizag pellet plant in Andhra Pradesh."
Andhra Pradesh Chief Minister Jagan Mohan Reddy said, "We welcome these significant investments by ArcelorMittal and AM/NS India to Andhra Pradesh, which reinforce the state's leadership in attracting pioneering manufacturing and renewables projects that will not only support India's steelmaking growth ambitions but also assist the country's efforts to advance industrial decarbonisation."
The state government and Aurobindo Reality Infrastructure Private Limited have signed an agreement to generate 6,000 MW of green energy. On behalf of the state, Special Chief Secretary Karikal Valaven signed the MoU, while Aurobindo Director Sharatchandra Reddy signed on behalf of the Company.
The state and Greenko inked a second Memorandum of Understanding for generating 8,000 MW of green power. Greenko's Karikal Valaven and Anil Chalamsetti signed the agreement.
Ace Urban Developers inked the third MoU for setting up a decarbonized manufacturing unit in Machilipatnam. The signatures were Karikal Valaven and Anil Chalamsetti.