VISAKHAPATNAM – In a push to revitalize Andhra Pradesh’s industrial landscape Chief Minister Chandrababu Naidu held a series of meetings with corporate leaders in Visakhapatnam highlighting the state’s investment potential and inviting collaboration. The discussions culminated in a significant investment commitment from Coromandel International Limited.
The CM suggested that all investment proposals be formalized through Memorandums of Understanding (MoUs) with the state’s Economic Development Board (EDB), ensuring a structured and government-backed approach to industrial growth.
Coromandel International’s Major Green Energy and Fertilizer Push
A key outcome was the meeting with officials from Coromandel International, a leading agri-solutions company under the Murugappa Group. The company, which already has a significant presence in Visakhapatnam and Kakinada, announced plans for a major expansion with an additional investment of ₹2,000 crore.
An agreement to this effect was signed in the presence of the Chief Minister. The investment will focus on:
- Expanding fertiliser manufacturing capacity.
- Establishing production facilities for green ammonia and green hydrogen, aligning with global clean energy trends.
This move not only strengthens Andhra Pradesh’s position in the agricultural inputs sector but also positions it as an emerging hub for green energy production.
Diversifying the Manufacturing Base
In a separate meeting, CM Naidu discussed plans with NK Agarwal, Chairman of Balaji Action Buildwell, for setting up a wood-based engineered panel manufacturing unit. This initiative points to the government’s focus on diversifying the state’s industrial base beyond its traditional strengths.
Additionally, Agarwal donated ₹1 crore to support the maintenance of the government’s subsidized Anna Canteens, which provide affordable meals to the public.
A Proactive Approach to Investment Promotion
These interactions signal the state government’s proactive stance under CM Naidu’s leadership to attract capital and foster job creation. By directly engaging with industry and facilitating agreements through the EDB, Andhra Pradesh aims to create a conducive and efficient ecosystem for businesses to thrive.