Visakhapatnam Port Trust chairman K Rama Mohana Rao on Wednesday asserted that the MoUs signed during the Maritime India Summit and worth about Rs 45,000 crore, will be realized in three to four years. VPT entered into 45 MoUs with an estimated investment of Rs 45,000 crore in the port-led industries at the summit.
As part of Maritime India Summit-2021, a special session on “Investment opportunities in Andhra Pradesh” and Plenary Session-5 on “Port-Led Industrialisation, Building Port Cities and Maritime Clusters” were conducted on Day-2 of the Summit. Addressing the special session, Rama Mohana Rao reminded that AP is one of the fastest-growing states in India and is dotted with the second-longest coastline of 974 km. He said that Andhra Pradesh is keen on utilizing its coast to its full potential and for accelerating economic growth.
He reiterated that AP was ranked No.1 in Ease of Doing Business among states and aspires to be the most sought-after investment destination in India by offering a plethora of opportunities for investors to flourish. Speaking to Hello Vizag, Rama Mohan Rao said that Andhra Pradesh is taking initiatives to unlock the capacity of its coastline by exploring the possibilities of developing new ports and hoped AP takes advantage of the forum to showcase its investment opportunities and gain from the Summit-2021.