Date of Post: 24 Oct, 2017
Vijayawada: The Andhra Pradesh government signed two major deals with Dubai-based firms, which could net a total investment of $7.5 billion for the state.
The EDB (Economic Development Board) said on Twitter, the deals were struck during the ongoing visit of Chief Minister N Chandrababu Naidu to the UAE.
The Two MoUs
- The AP Economic Development Board signed an MoU (Memorandum of Understanding) with Bin Zayed Group, which promised to invest $2 billion in various infrastructure projects in the state.
- The Board signed another MoU with Aviation City LLP for developing an aero city hub in Andhra Pradesh with an investment of $5.5 billion.
State’s Infrastructure Projects
- Bin Zayed International LLC will partner with the AP government for various infrastructure projects.
- These projects include
- Vijayawada Metro Rail
- Bhogapuram International Airport
- Multipurpose port at Ramayapatnam
- Major arterial ring road and inner ring road (locations not specified)
- Bhogapuram-Bhimili & Visakhapatnam-Addaripeta beach corridors
Emirates “showed interest” in four proposals
- A government release said, Emirates “showed interest” in four proposals, citing the meeting the chief minister with the airline’s executives in Dubai.
- Emirates, is interested in developing an airport in the state, providing air connection to three cities (Tirupati, Visakhapatnam & Vijayawada) from Dubai, making Andhra Pradesh a hub for Emirates & establishing an aviation academy, the release said.
- The chief minister was quoted as saying that the government wants to further the relationship with Emirates & make AP an integrated logistics hub for it.
The Aero City Hub
- The AP government will have to secure 10,000 acres of land for the proposed aero city hub – the location is yet to be decided – which is expected to create 15,000 direct jobs and 5,000 indirect ones.
- The Aviation City LLP team will visit the state in November to study the project and will submit a preliminary report in January in Davos.