Andhra Pradesh inks MoUs for investments worth ₹10 lakh cr; Investor Protection Act in next assembly session: Naidu

Andhra Pradesh has inked a total of 303 Memorandum of Understandings (MoUs) for investments of about ₹10 lakh crore in the the last two days at 31st CII Partnership Summit, 2026 in Vishakhapatnam. Chief Minister N Chandrababu Naidu has said the state will pass Investor Protection Act in the next session of the assembly.

The MoUs signed by the state have a potential to create 3.48 lakh jobs. "We have to ensure that the MoUs do not remain on paper. The projects have to be implemented on ground and people have to be benefited," Naidu said.

Before this year's summit, Andhra has received 714 investment intents worth ₹22.60 lakh crore since 2024 with potential to create two million jobs. Out of these 303 worth ₹7.3 lakh crore have been grounded. A total of 526 projects worth ₹17.10 lakh crore have been converted, wherein land and incentives have been approved.

"Reliance Industries Limited, Greenko Energies Private Limited, Clean Max Enviro Energy Solutions Limited, Megha Engineering & Infrastructures Limited, and Kia India Private Limited are among the companies which have made large commitments," the state government said.

The MoUs were exchanged in presence of CM N Chandrababu Naidu, and HRD, Electronics and IT minister Nara Lokesh.

The other MoUs include investment of ₹15,000 crore from JSW steels.

The state has attracted multiple proposals in the space tech sector.

Agnikul Cosmos Private Limited has proposed investment of ₹510 crore, generating 350 jobs. Hathor Rockets has proposed investment of ₹250 crore, generating 200 jobs.

Greenzone Renewable Energy Private Limited has proposed investment of ₹8,000 crore, generating 200 jobs and Indian Oil Corporation Limited (IOCL) has inked a pact with the state for investment proposals of ₹6,600 crore, generating 800 jobs.

"The other MoUs include Kakinada Seaports Limited (KSPL) investments in the ports, shipbuilding and maritime sector. KSPL has proposed investment of ₹6,452 crore, generating 852 jobs. EIH Limited proposed investment of ₹175 crore, generating 150 jobs in the AP Capital Region Development Autority area which is developing the Amaravati capital city.

"In addition the Hero MotoCorp Limited signed P4 MoU to provide scholarship to 720 IIT students costing ₹32.8 crore. Besides the ITC Limited signed a P4 to uplift people of hundred villages including 15 model villages" the government said.

Naidu called upon industrialists to focus not only on signing agreements but also on grounding projects and ensuring their timely implementation. He assured that the State Government would extend complete support to industries in taking their projects forward.

Naidu said that the government had earmarked 5,000 acres near Tirupati for the space sector, adding that the region was well suited for industries in the space and defence sectors.