Reaping a rich harvest of investment flow during the on-going CII Partnership Summit, Andhra Pradesh government has firmed up a Memoranda of Understanding (MoU) with private developers for 70 projects worth about Rs 36,000 crore.
Marking the first initiative in the chain of projects, the government on Thursday signed an MoU with Kakinada Indian Oil lng Consortium (KIOLC) to set up the Rs 19,000 crore intergrated lng terminal at Kakinada deep water port to cater to power needs of AP and neighbouring states.
The ambitious project, to be executed by Indian Oil Corporation (IOC)-led consortium, comprising petronas of Malaysia and Cocanada port company private limited of Singapore, would be completed in three years.
The MoU was signed in the presence of Chief Minister N Chandrababu Naidu through a video linkage between Hyderabad and New Delhi where officials of KIOLC and petroleum ministry were present.

Andhra Pradesh Roads, Buildings and Transport Secretary J Rambabu signed the agreement on behalf of the State Government while Subhir Raha inked the MoU on behalf of KIOLC. Bureau Report