Andhra Pradesh’s Chief Minister, N Chandrababu Naidu, has intensified global investment outreach during the World Economic Forum (WEF) in Davos. The focus is on sectors such as green energy, heavy industry, artificial intelligence, fintech, and tourism.
In a series of high-level meetings with global business leaders, Naidu emphasized his government’s commitment to expediting approvals, real-time monitoring, and promoting Andhra Pradesh as an investor-friendly destination.
One of the significant discussions took place with ArcelorMittal Executive Chairman, Lakshmi Mittal, where progress on a proposed steel plant in Anakapalli district was reviewed. The Chief Minister announced that the foundation stone for the ArcelorMittal Nippon Steel plant would be laid after February 15, with an initial investment of approximately INR 60,000 crore.
During a review session with officials in Mittal’s presence, Naidu stressed the importance of completing all land acquisition and regulatory approvals before the foundation ceremony. He also assigned coordination responsibilities to Ministers Nara Lokesh and TG Bharat to ensure a timely start for the project.
ArcelorMittal CEO Aditya Mittal expressed appreciation for Lokesh’s constant monitoring and proactive support in facilitating approvals. The meeting also served as an opportunity for Naidu to brief Mittal on broader investment opportunities across various sectors in Andhra Pradesh.
The discussions at the WEF highlight the state government’s efforts to attract foreign investments and drive growth in key industries, contributing to the overall economic development of Andhra Pradesh.
