North Andhra emerges as preferred investment hub

Visakhapatnam: More than two and a half years have passed. North Andhra has been securing an influx of investments along with other parts of Andhra Pradesh. The ‘speed of doing business’ mantra along with the ease of doing business has caught on among industrialists and investors, who are now looking toward Visakhapatnam, Vizianagaram and Srikakulam for big-ticket investments.

For decades, North Andhra was known as a region brimming with immense untapped potential. With Visakhapatnam emerging as the region’s economic growth driver, the investments announced by the Chandrababu Naidu-led NDA government in AP are steadily coming to fruition. From IT companies to data centres, tourism development projects to infrastructure plans, manufacturing centres to logistics units, renewable energy plants to a solar ingot-wafer manufacturing unit, the integrated greenfield steel plant of ArcelorMittal Nippon Steel India to the Alluri Sitarama Raju International Airport in Bhogapuram, a host of industrial parks to the much talked about Google’s $ 15 billion Data Centre, the list of investments in North Andhra seems to be bountiful.

In a few years from now, the future will prove decisive in determining whether the region primarily evolves from an industrial and port-led economy into a diversified technology and services hub. Underlining the state government’s commitment to developing North Andhra, Gadagottu Sambasiva Rao, Vice-Chairman of the Confederation of Indian Industry (CII), termed the establishment of ASR International Airport in Bhogapuram a major step in drawing huge investments and boosting connectivity and air cargo, areas that have never been considered as seriously as they are now.

“Also, the government is giving equal priority to IT and tourism sectors. Work on the AM/NS India integrated steel plant at Nakkapalli is underway. A number of Data Centres are coming up in addition to large and medium-scale investments in varied sectors. Prime reasons for the unprecedented surge in investments include conducive policies and the government’s support in executing projects at record speed.

No wonder, the state government, under the able leadership of N. Chandrababu Naidu, is developing manufacturing units and service sectors across the three regions, giving equal preference to port-led development as well,” Sambasiva Rao said.

With IT and HRD Minister Nara Lokesh laying the foundation stone for the AIG Hospitals in Visakhapatnam, the world-class integrated healthcare, academic and research hub, being developed with an investment of Rs.2,000-crore in Yendada, will create employment for 9,000 people.

ABOUT THE AUTHOR

Rani Devalla

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Rani Devalla is an experienced journalist specialised in a range of beats. From crime to politics, health to human interest, education to defence along with entertainment and feature stories, Rani Devalla, an accomplished writer with a passion for exploring diverse genres, has been reporting for the past 14 years. Serving as Bureau Chief of The Hans India in Visakhapatnam, Rani Devalla contributes to the organisation's editorial department through daily reporting, special stories and feature stories. After completing B.Com, Rani Devalla pursued Masters in Human Resource Management. Prior to joining The Hans India, Rani Devalla worked as a Principal Correspondent with The Hindu Group for six-and-a-half years. With rich expertise, she brings diverse perspectives to her reporting that makes her narratives stand out. When not immersed in writing, the journalist spends time reading, travelling and journaling.

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