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| AP secures Rs 5.57 lakh cr investment projects |
| Friday, January 13, 2012 |
Andhra Pradesh has bagged projects involving an investment of Rs 5.57 lakh crore and the MoUs for about Rs.1 lakh crore were signed on January 12. on the first day of the CII Partnership Summit. Various companies signed the Memorandums of Understandings (MoUs) with the state government for land and other incentives. A top official said MoUs of Rs.2 lakh crore investment in energy sector would be signed during the event.
GMR Holdings will set up a greenfield refinery-cum-petrochemicals complex and an integrated township at Kakinada at a cost of Rs.33,000 crore. While the refinery will come up with an investment of Rs.30,000 crore, an integrated industrial township will see an additional investment of Rs 3,000 crore. SG Kishore, COO, GMR, told that the company is looking for a strategic partner for refinery. The company is expected to commercialise the plant in the next five years.
GMR's MoU followed ONGC withdrawing from Kakinada greenfield petroleum refinery and petrochemicals project. BR Shetty and Group will set up a petroleum refinery in Visakhapatnam with an investment of Rs.30,000 crore.
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| Tags: Ap, Investment Projects, Cii Partnership Summit, Hyderabad, Gmr Holdings, . |
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