The Chandrababu Naidu Effect: Odisha Losing Big Ticket Investments To Andhra

Ever since Chandrababu Naidu took over as the chief minister of Andhra Pradesh, the state is attracting big ticket investments from domestic and global players. The latest to enter the state is the Tata Group. The Tata Power Renewable Energy Ltd (TPREL) has decided to invest Rs 6,675 crore in Andhra Pradesh to set up India’s largest Ingot-Wafer facility at Nellore. Earlier, Tata Power was toying with the idea of setting it up in Odisha. May be Naidu’s sops and incentives worked. The ingots and wafers to be produced at Nellore facility are critical inputs for solar cells, modules and semiconductor application which would reduce import dependents for strategic components. As part of its clean energy commitment, TPREL will also establish a 200 MW captive green power plant to supply renewable energy to its Andhra facility. It is learnt that this is not the first project Odisha has lost to it neighbour Andhra. Corporate analysts talk about how the UK-based Semiconductor group SRAM & MRAM which had plans to invest Rs 30,000 crore in Odisha initially switched over to Andhra Pradesh. Likewise, even JSW EV retracted its decision to invest in Odisha and opted for Maharashtra. Arcelor Mittal which had plans to set up green field steel plant in Odisha has now decided to move to neighbouring Andhra. Looks like the business both local and global are comfortable in dealing with Chandrababu Naidu. So be it Google, Reliance, Adani, Hinduja’s, Arcelor Mittal and now Tatas seem to be reposing confidence on Chandrababu Naidu’s proactive governance style and deliverables.