Andhra signs ₹6,200-crore investment pacts for Godavari region at CII meet; 18,000 jobs expected

Andhra Pradesh Deputy Chief Minister K. Pawan Kalyan with investors at the regional conference of the 31st CII Partnership Summit in Kakinada on Monday. File | Photo Credit: Special Arrangement

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.