AP mobilizes Rs 2,000 Cr by issuing Amaravati bonds, biz partnerships:CEO
Andhra Pradesh

AP mobilizes Rs 2,000 Cr by issuing Amaravati bonds, biz partnerships:CEO

Agency News

Amaravati, Dec 4 : Andhra Pradesh government has mobilized Rs 2,000 crore by issuing Amaravati bonds and signed business partnerships with International business houses.

AP Economic Development Board (APEDB) Chief Executive Officer (CEO) J Krishna Kishore in a statement here on Tuesday said that the development initiatives undertaken by the state government reflected in the 1.53 times over subscription of Amaravati Bonds listed on the Bombay Stock Exchange, helping the state to mobilize Rs 2,000 crore.

He said that during the last few months, the Andhra Pradesh government has signed new business partnerships with Hindustan Sanitary Ware & Industries, Holitech, Johnson Controls-Hitachi Air Conditioning India, Quess Corp, Alibaba Cloud, UNESCO Mahatma Gandhi Institute of Education for Peace and Sustainable Development (MGIEP) and among others.

Mr Kishore informed that the state has witnessed the highest growth in corporate investments in India and continues to draw the attention of investors globally. All efforts are underway to sustain the double-digit growth rate in GDP for the next two decades and make Andhra Pradesh one of the top 3 states in India by 2022 and a developed state by 2029, he explained.

The APEDB CEO said that the state is India’s foremost investment destination and the fastest growing economy in the country, with a GDP growth rate of 11.2 per cent during 2017-18. The state is also ranked No. 1 in the country in the “Ease of Doing Business” rankings by the World Bank for the second consecutive year.

Meanwhile, several planned investments materialized with grounding of plants, such as Lixil Sanitarware and Toray. In addition, steps to ensure all-round development were also being undertaken with the launch of e-pragati, the world's largest digital transormation project and the drive to make the cities of Andhra Pradesh one of the most liveable cities in India. (UNI)