NTPC-led Green Hydrogen Hub to Boost Andhra Pradesh's Economic Growth
Key Ideas
- Prime Minister Modi to inaugurate NTPC-led Green Hydrogen Hub in Andhra Pradesh, signaling a significant investment in renewable energy and green technology.
- The project, costing Rs 84,700 crore, is expected to create 25,000 jobs and produce 1200 tonnes of green hydrogen daily, aiding in decarbonisation and supporting India's renewable energy targets.
- Andhra Pradesh Chief Minister Naidu emphasizes the importance of providing employment to the youth and outlines plans to establish 22 lakh MSMEs and an innovation hub to boost industrial development.
- The State aims to become a global job destination and implement policies to attract investments, particularly in the food processing industry, to drive economic growth and welfare schemes for the people.
Prime Minister Narendra Modi is set to lay the foundation stone for the NTPC-led Green Hydrogen Hub in Pudimadaka, Andhra Pradesh, with a project cost of Rs 84,700 crore. The initiative, aimed at boosting renewable energy and green technology, is a significant step towards decarbonisation and supporting India's renewable energy goals. The Green Hydrogen Hub, spanning 1200 acres, is expected to create 25,000 jobs and produce 1200 tonnes of green hydrogen daily, with plans to convert it into export-grade green ammonia and green methanol.
Andhra Pradesh Chief Minister N Chandrababu Naidu highlighted the importance of youth employment and industrial development, emphasizing the State's goal of becoming a global job destination. The government plans to establish 22 lakh MSMEs and an innovation hub with a Rs 500 crore corpus fund. Additionally, incentives will be provided to farmers for setting up food processing centres, aiming to boost the economy and welfare schemes.
Naidu expressed optimism about Andhra Pradesh's economic growth, particularly in the service and food processing sectors. The State aims to attract investments and provide assurance to potential investors, aiming to position Andhra Pradesh as a leading state in the country by 2047. The State government's focus on industrial development, employment generation, and renewable energy signifies a positive step towards sustainable growth and decarbonisation.
Topics
Green Hydrogen
Renewable Energy
Infrastructure
Investment
Economic Growth
Industrial Development
Employment Opportunities
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