Emirates in AP: 30,000 Cr Investment Likely

Emirates in AP: 30,000 Cr Investment Likely

After interacting with the Emirates team in a video conference earlier in October 2017, Chandrababu Naidu, who is in his Dubai visit, has personally met the Emirates Chairman Maqdoom and signed an MOU (Memorandum of Understanding). An MOU was signed between Andhra Pradesh Economic Development Board (APEDB) and Emirates Group. With this, a 30,000 Crore investment from Emirates is expected to arrive to AP.

The MoU signed with The Emirates Group includes setting up a Maintenance Repair and Overhaul (MRO), an Aviation Training Centre and a Manufacturing Unit of in-flight consumables. Also, Emirates has agreed to set up a special Aviation Training Academy in AP.

As part of the MOU, both APEDB and the Emirates Group would jointly work together and do extensive research on the Aerospace industry and the proposals in its manufacturing industries. Based on the understanding, the APEDB and the Emirates Group would zero in on the investments.

As per the deal, the improvement of Aviation industry in AP is the key and to develop the industry in AP matching to global standards. Naidu personally invited Emirates Chairman Maqdoom to visit AP and expressed wish to collaborate and work together.

Meanwhile, Naidu's Dubai visit was complete as it's expected to get more investments. Sharaf Group has agreed to set up a Food Processing Zone in Samarlakota and Phoenix Group has agreed to start a huge Rice Mill in Samarlakota.

Naidu was accompanied by Finance Minister Yanamala Ramakrishnudu and media advisor Parakala Prabhakar, APEDB CEO Jasti Krishna Kishore.

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