Chief Minister Chandrababu Naidu's visit to China has been fetching some big investments to Andhra Pradesh.
On the 2nd Day of Tour, A consortium of three companies signed an MoU with AP Government to set up Rs 10,183 crore fertilizer plant at Krishnapatnam. The companies were identified as China Huanqiu Contracting and Engineering Corporation, Isomeric Holdings and LEPL Ventures. This gas-based fertilizer plant will create employment opportunities to at lead 5,000 people. Work of the fertilizer plant would start next year.
Chandrababu Naidu told AP achieved double digit growth of 10.99 percent inspite of crisis. He reiterated that the target for next financial year would be a growth of 15 percent. He projected to the Chinese investors that Industrial Policy introduced by AP Government issues clearances within 21 days. Particularly, CBN invited UPS which world's largest package delivery firm to make Visakha and Krishnapatnam its search cargo hubs.
