Andhra Pradesh Government Signs Two MOUs With Dubai-Based Firms – Bin Zayed Group & Aviation City LLP, $7.5 Billion Total Investment Expected

Andhra Pradesh Government Signs Two MOUs With Dubai-Based Firms – Bin Zayed Group & Aviation City LLP, $7.5 Billion Total Investment Expected

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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.

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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.

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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.

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