Andhra signs ₹6,200-crore investment pacts for Godavari region at CII meet; 18,000 jobs expected
The Andhra Pradesh government has signed investment agreements worth ₹6,200 crore for the Godavari region, aiming to create 18,000 jobs. Projects include an electric vehicle magnet plant and an aviation fuel facility.
Why it matters
These investments signal a shift in regional economic policy and an attempt to restore investor confidence in Andhra Pradesh following a change in government.
The Andhra Pradesh government on Monday (October 12, 2026) signed agreements worth ₹6,200 crore with various investors for setting up projects proposed in the Godavari region in the presence of Deputy Chief Minister K. Pawan Kalyan here at the regional conference of the 31st CII Partnership Summit . These projects would create an estimated 18,000 jobs in the region.
The proposed projects include a rare earth permanent magnet plant, with an investment of ₹1,250 crore and an annual production capacity of 600 tonnes of magnets for electric vehicles, by the Hyderabad-based Nexon-Geochem group; an aviation fuel plant by the SAF One Energy group near the Kakinada anchorage port; and a branch of the Indian National Centre for Ocean Information Services (INCOIS) by the Ministry of Earth Sciences for tsunami alerts and advisories for marine fishing.
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