A.P. attracts major investments at CII summit in Visakhapatnam

State-owned Hindustan Shipyard Limited (HSL) and Cyient DLM have signed a strategic memorandum of understanding (MoU) at the 31st CII Partnership Summit in Visakhapatnam to jointly design, develop and manufacture indigenous navigation, communication and shipboard electronic systems.

The MoU was exchanged by HSL Director Capt. Ganti Venkateswarlu and Cyient DLM CEO Rajendra Velagapudi in the presence of Union Minister Kinjarapu Ram Mohan Naidu and State IT Minister Nara Lokesh.

The partnership aims to indigenise critical marine equipment, including solid-state radars, Electronic Chart Display and Information Systems (ECDIS), autopilots and voyage data recorders. The systems will initially be integrated into 18 Next Generation Fast Patrol Vessels (NGFPVs) on a pilot basis.

HSL CMD Rear Admiral C. Raghuram (Retd.) said the initiative would strengthen indigenous content in shipbuilding. Mr. Rajendra highlighted the synergy between HSL’s shipbuilding expertise and Cyient DLM’s electronics manufacturing capabilities.

Megha Engineering and Infrastructures Limited (MEIL) and its joint venture fabrIQ Private Limited have signed four MoUs with the Andhra Pradesh Economic Development Board (APEDB), involving investments of ₹43,700 crore and projected to generate over 1.06 lakh direct and indirect jobs.

MEIL’s proposed investment of ₹39,400 crore covers port-linked infrastructure near Machilipatnam, a 3-GW renewable energy project, 1-GW round-the-clock green power generation and 1,500 electric vehicle charging stations.

Separately, fabrIQ has committed ₹4,300 crore to establish a Physical Intelligence Technology and Engineering Centre.

The two-day summit witnessed major investment commitments across several sectors. Reliance Industries announced an outlay of ₹2.73 lakh crore, while Kia India proposed an ₹18,878-crore expansion of its plant at Penukonda. JSW Group committed ₹15,000 crore to a facility in Kadapa, while Rashmi Metallurgical proposed an ₹18,500-crore project in Srikakulam.

The aerospace, defence and food processing sectors also secured clearances for several projects.

Meanwhile, storytelling and toy startup Namasthe World, founded by Bhuma Mounika Manchu and Manchu Manoj, signed a ₹36.24-crore MoU to establish sustainable handloom and toy manufacturing centres in Kurnool and Visakhapatnam. Union Minister Piyush Goyal commended the initiative’s “glocal” model at the summit.