Vijayawada: Minister for IT and Human Resources Development Nara Lokesh on Thursday said that Chief Minister Nara Chandrababu Naidu’s five-day tour of Singapore, aimed at attracting investments, was a “grand success”. He revealed that Memoranda of Understanding (MoUs) worth Rs 45,000 crore were signed with the Government of Singapore and the Singapore Investment Corporation, committing to investments in Andhra Pradesh over the next five years.
Speaking to media persons here, Lokesh highlighted Chandrababu Naidu’s enduring positive image in Singapore, irrespective of his political status. He criticised the previous YSRCP government for unilaterally cancelling MoUs with Singapore, citing unsubstantiated corruption charges. Lokesh detailed the extensive engagements of the Chief Minister’s team in Singapore, which included 26 face-to-face interviews and 19 meetings with industrialists. The delegation also undertook visits to key facilities such as Tuas Port, Jurong Petrochemicals, and companies in the IT, electronics, green energy, sports, and real estate sectors.
The minister further announced that the mega Greenfield steel plant being established by AM/NS India, a joint venture between Lakshmi Mittal ‘s ArcelorMittal and Nippon Steel of Japan in Andhra Pradesh, would commence production by 2029.
Defending the decision to allot land to software giant TCS at 99 paise per acre, he asserted that this move was strategic to put Visakhapatnam on the global IT map.
Consequently, Cognizant has also come forward to establish an office in Visakhapatnam. Lokesh reiterated the state government’s commitment to allotting land to companies primarily to generate employment for the youth. He confirmed that TCS operations in Visakhapatnam will begin in September, followed by Cognizant starting operations in October.
