The AP officials have informed chief minister Y S Jagan Mohan Reddy on Monday that out of the 387 MoUs signed at the Global Investment Summit in Visakhapatnam, 100 MoUs were signed by the Trade and Industry department while 13 MoUs were translated into action bringing in Rs 2739 crore investments and creating employment for 6,858 people.

The officials told him that 38 companies would begin their work in the State before January 2024 and 30 other companies before March 2024. The Chief Minister told them to ensure that all companies which signed MoUs would begin work by February 2024.

The officials also informed the chief minister that out of the 25 MoUs signed on energy projects, 8 projects were awaiting SIPB clearance while DPRs are getting ready for another 8 projects and works on 4 projects would be commencing soon.

They further said that out of the 20 MoUs signed on energy projects prior to the summit, works on 6 projects would commence soon while DPRs are ready for 11 projects. These projects will bring Rs.8.85 lakh crore investments resulting in employment to 1,29,650 persons, they explained.

Reviewing the growth of the IT industry and investments into the sector, the Chief Minister told the officials to work towards turning Visakhapatnam into an IT hub and make it the care of address for IT related industries.

The officials said that 88 MoUs worth Rs 44,963 crore were signed on IT and its related projects. Out of this, investments worth Rs 38,573 crore have already come and the companies are about to start their operations.

The Chief Minister said that officials should work towards translating the MoUs signed on food processing projects into action at the earliest to help the tomato and onion growers by establishing processing units. He also reviewed the flow of Investment into animal husbandry and tourism sectors for which MoUs were signed.