Published On:February 9 2018
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Emirates to invest ₹30,000 crore in State.
The one-day visit of Chief Minister N. Chandrababu Naidu to Dubai to attract investments, on Thursday ended on a positive note. He held discussions with Emirates Group, Phoenix Group and Sharaff Group.
The Emirates Group signed a Memorandum of Understanding (MoU) with the Andhra Pradesh Economic Development Board (EDB).
The Emirates Group intends to invest ₹30,000 crore in the State. Setting up a Maintenance Repair and Overhaul (MRO), an aviation training centre and a manufacturing unit of in-flight consumables are some of the areas in which the group is planning to invest.
The MoU was signed the presence of Mr. Naidu and Emirates Group Chairman and CEO Sheikh Ahmed bin Saeed Al Maktoum.
Indian Ambassador to UAE Navdeep Suri was also present at the meeting.
At another meeting, Phoenix Group CEO Gaurav Dhavan said they would launch work on mega integrated rice mill at Samalkota in East Godavari district by April.
The rice mill, with a capacity of 3 lakh tonnes per annum, will be the biggest in the world if the plans materialise.
The group intends to release 1 lakh metric tonnes rice in the Indian market and 2 lakh metric tonnes in the international market.
The mill can generate employment to 200 to 400 people.
The group representatives said they currently hold large tracts of land in Ukraine and other countries. The group’s project in Ukraine in collaboration with U.S. companies was nearing completion, they said. The group was focusing extensively on the Indian market.
Mr. Naidu explained the innovative methods that were being adopted in A.P. in the field of agriculture.
He also met Sharaff Group Vice-Chairman Sharafuddin Mohammad Hussain. The group representatives said their executives visited the State to explore investment opportunities and have seen some land parcels for a food processing zone. They expressed concern over land prices and the Union government’s policies regarding food processing industry. Mr. Naidu assured them that the State government would give all clearances at the earliest. “The Union government policies can be always worked on to serve the best of everyone’s interest,” he said.
Finance Minister Yanamala Ramakrishnudu, Government Advisor (Communications) Parakala Prabhakar, Special Chief Secretary Satish Chandra, Principal Secretary G. Sai Prasad, Principal Secretary (Energy) Ajay Jain, and APEDB CEO Jasthi Krishna Kishore accompanied the Chief Minister.