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AP Eyes Rs 9 Lakh Crore Investment in Visakhapatnam Region
In India, a state called Andhra Pradesh wants to build a big new business area near the city of Visakhapatnam.
This area is called the Visakhapatnam Economic Region, or VER for short.
The state government hopes to bring in as much as Rs 9 lakh crore of money for new projects there.
It will put in between Rs 3.5 lakh crore and Rs 4 lakh crore of its own money.
It also wants private companies to invest up to Rs 5.3 lakh crore.
The leader of the state, Chief Minister N Chandrababu Naidu, looked over the plans at his office in Undavalli.
A big project called Bay City will be the centerpiece of the plan.
The plan includes places for AI computers, port-related businesses, tourism, and clean energy like hydrogen.
The development will stretch from Mulapeta Port to Rajahmundry's Akhanda Godavari project.
The goal is to grow the whole Visakhapatnam region through careful, detailed planning.
The Andhra Pradesh government aims to attract investments of up to Rs 9 lakh crore in the Visakhapatnam Economic Region (VER).
The VER project is expected to draw up to Rs 9.3 lakh crore through key projects across various sectors.
The state plans to invest between Rs 3.5 lakh crore and Rs 4 lakh crore, while attracting up to Rs 5.3 lakh crore from the private sector.
Chief Minister N Chandrababu Naidu reviewed the plan at his camp office in Undavalli, with the 'Bay City' project positioned as its anchor.
The plan covers an AI data centre ecosystem, port-related industries, tourism, and hydrogen, clean-tech and energy projects, spanning from Mulapeta Port to Rajahmundry's Akhanda Godavari project.
- Who
- Andhra Pradesh Chief Minister N Chandrababu Naidu and the state government, along with prospective private-sector investors.
- What
- A plan to attract up to Rs 9 lakh crore in investment for the Visakhapatnam Economic Region (VER), with expected total project investment of up to Rs 9.3 lakh crore.
- Where
- The Visakhapatnam Economic Region in Andhra Pradesh, India; the plan was reviewed at the Chief Minister's camp office in Undavalli, with a report dateline from Amaravati.
- When
- Announced via a press release on Wednesday; the report is dated August 5.
- Why
- To develop the entire Visakhapatnam region through micro-level planning, covering sectors such as AI data centres, port-related industries, tourism, and hydrogen, clean-tech and energy projects.
Key facts
- Target investment
- Up to Rs 9 lakh crore
- Expected total project value
- Up to Rs 9.3 lakh crore
- State government investment
- Rs 3.5 lakh crore - Rs 4 lakh crore
- Private sector investment
- Up to Rs 5.3 lakh crore
- Chief Minister
- N Chandrababu Naidu
- Anchor project
- Bay City
- Key sectors
- AI data centres, port-related industries, tourism, hydrogen, clean-tech and energy
- Geographic scope
- Mulapeta Port to Rajahmundry's Akhanda Godavari project
Quotes
N Chandrababu Naidu
Chief Minister of Andhra Pradesh
“"The goal of the VER project is to develop the entire Visakhapatnam region through micro-level planning."”
theprint.in
deccanchronicle.com
Sources
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