CII partnership summit, Visakhapatnam – AP signs a flood of MOUs

flood of investments into AndhraThe Andhra Pradesh government has lined up big bang investment intents in energy and infrastructure sectors totaling about Rs 1,73,000 crore.

  • MoUs worth close to Rs 1.5 lakh crore would be signed in the energy sector alone during the course of the three-day event. Despite being a surplus state, AP has received new investment proposals worth of Rs 1,37,816 crore with a total additional capacity of close to 21,000 Mw in both renewable and conventional energy sectors.This is in addition to the 4,000 Mw thermal power project being proposed to set be up by NTPC in Visakhapatnam district. These MoUs include a couple of large investment proposals by foreign companies.
  • About 21 MoUs in the energy sector — 12 in wind capacity (7,175 Mw), five in solar power (2,201 Mw), two in thermal (8,060 Mw) and a thermal-hybrid project (2000Mw+1,500 Mw) are expected to be signed. Over 80 per cent investments proposed are in wind and coal fired power projects.
  • Suzlon Group has signed a binding term sheet agreement with a renewable energy independent power producer (IPP) for execution of 197.40 MW wind energy project . Once the due diligence is completed and construction contracts are inked, Suzlon will supply, install and commission 47 wind turbines of S97-120 m hybrid tower and 47 units of S111-90 m tubular tower wind turbine with rated capacity of 2.1 MW each. The project will be located at Anantapur district in AP. Suzlon will offer operation and maintenance services for 12 years through an integrated service package. The project is scheduled to be commissioned by February 2017.

    Among the other major investment proposals in wind energy, Gamesa Wind Turbines Private Limited and Greenco Energy Private Limited have proposed to set up projects each with a capacity of 500 Mw in the state.

  • In the solar sector, the Solar Energy Corporation of India is signing an MoU to set up a 1,250Mw solar power project while Sun Edison Energy India Privagte Limited, SB Energy and Azure Power, which had won 950 Mw projects in the NTPC solar power park under the National Solar Mission, are also signing the MoUs, according to the official information.
  • In the thermal power sector, Brisbane, Australia-based Queensland Coal Corporation has proposed to set up a 5,280Mw coal-fired thermal power project at an investment of Rs 31,680 crore in the state.
  • Similarly, China’s Sany Group is signing an MoU to establish a 3,500Mw coal-fired thermal power project at an investment of Rs 23,500 crore. The third MoU in this space will be signed by Krishnapatnam Port Company Limited (KPCL) for a 2,780Mw thermal power project at an investment of Rs 16,650 crore near the port.

 Elevated express way project

  • In a major boost to the development of coastal corridor in the state, the National Highways Authority of India (NHAI) is signing an MoU with the AP government to build a large elevated express way project between Ichapuram in the northern most coastal district of Srikakulam to Sriharikota in Nellore district covering more than 900 km along the seacoast. The project is estimated to cost Rs 15,300 crore.

Among other MoUs, Petrogas Private Limited, a consortium of Isomeric Holdings Sdn Berhad and Vijayawada-based LEPL Ventures Privagte Limited, has proposed to set up a floating storage and regacification (FSRU) terminal at an investment of Rs 3,000 crore at Krishnapatnam port. Public sector Container Corporation of India, Dredging Corporation of India and HPCL are also expected to sign MoUs.

Meanwhile, World Trade Center Services, Noida, is signing an MoU to build a World Trade Centre with an investment of Rs 800 crore at the new capital city of Amaravati.

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