Sumitomo Corporation of Japan and Andhra Pradesh Government have entered into several memorandums including one for setting up of a 4,000 mw ultra mega power project in Srikakulam.
During the meeting, the touring delegation headed by Andhra Pradesh Chief Minister N Chandrababu Naidu had today with Sumitomo, four MoUs were inked, according to a statement from the Chief Minister’s Office.
Kazuo Omori, Sumitomo Chairman, said Andhra Pradesh is an important State for the company. “After Modi’s visit, the relations between our countries are closer,” he said.
Sumitomo was earlier associated with the Vijjeswaram power project in Andhra Pradesh.
The MoUs are for cooperation in agriculture sector, where Sumitomo would explore opportunities in Andhra Pradesh and seek to help enhance farm productivity.
The second one seeks to engage Sumitomo in development of a 4 X 1000 MW Srikakulam Coal Fired Power Station. GoAP intends to receive funding support from government agencies of Japan for power project.
In the food processing sector, Sumitomo would assist AP in seeking foreign investments into the food processing industries through their global network.
In the State’s efforts to develop a new capital city, Sumitomo would work on various initiatives and it shall assist in securing funds for development from Japanese government funding by JICA, NEDO and JBIC.