CORPORATE

Hindujas line up Rs 20,000 crore across green energy, electric mobility in Andhra Pradesh

The Hinduja Group has signed an MoU with the Andhra Pradesh government, committing to invest Rs 20,000 crore in a phased manner. The agreement was signed in the presence of Andhra Pradesh Chief Minister N Chandrababu Naidu during his three-day visit to London recently.
The MoU materialised on Monday during Mr Naidu’s meeting with Hinduja Group India Chairman Ashok Hinduja and Europe Chairman Prakash Hinduja at The Langley in Buckinghamshire.
The proposed investment will fund expansion of existing 1,050-mw thermal power plant in Visakhapatnam to 1,600 mw, establishment of solar and wind energy projects in Rayalaseema and setting up of electric bus and light commercial vehicle manufacturing units in Mallavalli in the State’s Krishna district.
The conglomerate also plans to create a State-wide electric vehicle charging network and develop electric mobility hubs in Anantapur, Kurnool and Amaravati.
Mr Naidu said that these projects would transform Andhra Pradesh into a leading hub for green energy and electric mobility, while creating thousands of employment opportunities for youth. He assured the Hinduja Group of a dedicated fast-track mechanism for clearances and land allocation to ensure quick execution of the projects.
The Andhra Pradesh chief minister is on a business tour of London and has been meeting global industry leaders to attract large-scale investments into Andhra Pradesh ahead of the CII Partnership Summit, scheduled to be held in Visakhapatnam on November 14 and 15.

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