Andhra Pradesh

Ten MoUs signed on final day of Naidu China visit

On the last day of Andhra Pradesh Chief Minister N. Chandrababu Naidu’s six-day China tour, 10 MoUs - five G2B and an equal number of B2B - were signed on Friday.

While the G2B MoUs mostly related to facilitating direct investment in solar energy sector, majority of the B2B agreements were in connection with facilitating direct investment in Brandix India Apparel City in the field of textiles. Another B2B MoU was between KSEZ (GMR) and Hangzhou Huatong Inc for setting up a toys manufacturing unit at Kakinada SEZ, of GMR.

Earlier Mr. Naidu held a series of meetings with various companies in Shanghai. The TCL Corporation expressed interest in exploring investment opportunities in A.P. The corporation is a Chinese multinational electronic company that manufactures television sets, mobile phones, air conditioners, washing machines, refrigerators and small electrical appliances.

Mr. Naidu briefed the delegates on the strengths of the state and his plans to make A.P. an electronics manufacturing hub. He assured them of Government providing all necessary resources like land, water and power required for setting up a manufacturing unit.

Later, the government delegation held a meeting with Trina Solar Company which informed the Chief Minister that they were exploring possibilities of setting up manufacturing unit of solar power panels in the state.

The Chief Minister asked the company to identify a suitable location for the facility. He inquired if the company was looking for a location nearby port for export purposes or serve the domestic market of India. “If everything can be finalized ahead of Prime Minister Narendra Modi’s visit to China, an MoU can be signed in his presence,” Mr. Naidu added.

Executives of Nanjing-based construction giant Jiangsu Provincial Construction Company expressed interest to visit the State next month and explore opportunities. Jiangsu Company holds the credit of building the landmark bridge over the river in Shanghai city.

Mr. Naidu told them that it was a historic opportunity for A.P. to get involved with Jiangsu in the construction of the capital city. “We want to build iconic buildings in Andhra Pradesh and Amaravat​hi”, Chief Minister added. In another meeting, JA Solar Holdings company Ltd informed Mr. Naidu that they were keen to set solar power plants and plan to establish a 500 MW plant.

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Printable version | Oct 20, 2020 11:59:22 AM | https://www.thehindu.com/news/national/andhra-pradesh/ten-mous-signed-on-final-day-of-naidu-china-visit/article7113705.ece

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