Davos [Switzerland], January 21 : The World Economic Forum (WEF) Summit commenced with grandeur at the Davos Congress Center, bringing together global leaders, industrialists, and policymakers.
Andhra Pradesh's State Minister for Education, IT, and Electronics Nara Lokesh and Union Minister Ram Mohan Naidu represented India at the event, along with Chief Minister Chandrababu Naidu and State Industries Minister TG Bharat.
Following the grand inauguration around 8 PM Zurich time, a networking dinner provided an opportunity for the Andhra Pradesh delegation to showcase the state's investment-friendly ecosystem.
The team highlighted Andhra Pradesh as a hub for innovation and development, inviting industrialists to explore collaborative opportunities.
During the summit, Minister Nara Lokesh urged global industrialist Lakshmi Mittal, Chairman of the Mittal Group, to invest in developing Bhavanapadu into a world-class petrochemical hub.
Lokesh outlined the strategic advantages of the region, including a planned port capacity of 83.3 MTPA, robust infrastructure, and the presence of the Indian Institute of Petroleum and Energy in Vizag.
He emphasized the region's potential for manufacturing, R&D, and logistics in petrochemicals and green energy, supported by a stable and investment-friendly government.
Minister Lokesh also proposed setting up a 2 GW solar cell manufacturing plant in Andhra Pradesh with an investment of Rs3,500 crore under HMEL, a joint venture between HPCL and Mittal Green Energy Limited. The project, expected to create 2,000 jobs, received a strong assurance of government support.
Lakshmi Mittal shared updates on ArcelorMittal's ventures in Andhra Pradesh, including a Greenfield steel project in partnership with Japan's Nippon Steel.
With an investment of Rs1.4 lakh crore, the project aims to establish a 17.8 million-ton capacity steel plant near Anakapalli, phased over two stages. Mittal confirmed that necessary approvals, including a Government Order issued on November 26, 2024, are in place.
Mittal also detailed renewable energy projects, including a partnership with Greenko to develop 975 MW of solar and wind energy capacity.
This energy will supply 250 MW to the Anakapalli steel plant, reducing annual carbon emissions by 1.5 million tons. Additionally, a 1 MT Green Ammonia project in Kakinada has been committed, further aligning with Andhra Pradesh's focus on sustainable energy.
Minister Lokesh expressed gratitude for Mittal's large-scale investments and reaffirmed the state's commitment to supporting industrial growth. The discussions marked a significant step toward strengthening Andhra Pradesh's industrial and renewable energy landscape.
The meeting was attended by Kumar Aditya Mittal, Union Minister Ram Mohan Naidu, State Industries Minister T.G. Bharat, and AP Economic Development Board CEO Saikant Varma.
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