Tata Group to Invest in Andhra Pradesh: IT Hub, Hotels & Solar Projects
Nov 11, 2024 22:33
Tata Group will invest in Andhra Pradesh, setting up an IT hub in Vizag, building hotels, and developing solar & wind projects. The investment aims to create jobs and drive economic growth in the state.
Photograph: Danish Siddiqui/Reuters
Amaravati, Nov 11 (PTI) Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said that Tata Group will continue to be an important stakeholder in the state's growth story. This will include setting up an IT Development Centre in Vizag and building up to 20 hotels, among other initiatives.
The Chief Minister made this announcement following a meeting with Tata Group Executive Chairman N Chandrasekaran, where they discussed key growth areas for the southern state.
"Tata Group continues to be an important stakeholder in the growth of Andhra Pradesh. During my meeting with N Chandrasekaran today, I also discussed some key areas of growth in AP (Andhra Pradesh), where the Government of Andhra Pradesh (GoAP) and Tata Group could collaborate," said Naidu in a post on X.
According to the CM, the development centre in Vizag could generate up to 10,000 jobs, while the hospitality wing of the conglomerate, Indian Hotels Company Ltd (IHCL), is exploring the establishment of 20 hotels across its brands: Taj, Vivanta, Gateway, SeleQtions, and Ginger Hotels, along with a large convention centre.
In addition, Naidu said that Tata Power is evaluating solar and wind projects of up to 5 GW capacity, with a potential investment of Rs 40,000 crore.
"We also explored potential collaboration to innovate deep tech and AI solutions for primary healthcare," he said, adding that these initiatives will play a crucial role in driving growth and development across Andhra Pradesh.
Later, the TDP supremo chaired the first meeting of the Taskforce on Economic Development for Swarna (Golden) Andhra Pradesh @2047, which aims to unite industry giants from diverse sectors to help shape a visionary blueprint for the state's future.
"Our mandate is to spearhead consultations, identify economic growth avenues, assess infrastructure needs, and recommend policy reforms to drive AP's transformation," he said.
As part of this initiative, the CM said the task force has identified several key priorities across sectors such as infrastructure, entrepreneurship, skill development, MSMEs, and manufacturing.
Furthermore, the task force will chart out a comprehensive roadmap to drive substantial growth by 2030 and 2047, attract new investments, and position Andhra Pradesh as a leader in economic advancement, while laying the foundation for long-term prosperity.
Home »
Market News » Tata Group to Invest in Andhra Pradesh: IT Hub, Hotels & Solar Projects
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
MORE NEWS
RBI Names SBI, HDFC, ICICI as Domestic...
The Reserve Bank of India has designated State Bank of India, HDFC Bank, and ICICI Bank...
HCLTech Appoints Arjun Sethi as Chief Growth...
HCLTech appoints Arjun A Sethi as Chief Growth Officer for Strategic Segments, focusing...
Passenger Vehicle Sales Up in October: SIAM
Passenger vehicle wholesales rose marginally to 3,93,238 units in October, while...
ACME Solar Shares Slump 13% on Market Debut
ACME Solar Holdings Ltd shares debuted on the stock market with a 13% discount, falling...
Reliance Power Reports Rs 2,878 Crore Net Profit
Reliance Power has announced a consolidated net profit of Rs 2,878.15 crore in the...
Swiggy Shares Surge 8% on Market Debut
Swiggy shares opened at a premium of nearly 8% on the Bombay Stock Exchange (BSE) on...
Rupee Hits All-Time Low of 84.40 Against US Dollar
The Indian rupee fell to an all-time low of 84.40 against the US dollar on Wednesday,...
Indian Markets Decline Amid Inflation &...
Indian stock markets declined in early trade on Wednesday as retail inflation soared to...
Kalpataru Projects Bags Rs 2,273 Crore Orders
Kalpataru Projects International has secured new orders worth Rs 2,273 crore, primarily...
Maharashtra Election Merchandise Sales Hit by...
Maharashtra's election merchandise retail market faces a slump as political parties...
Read More »