Visakhapatnam to emerge as Andhra Pradesh's growth engine: CM Chandrababu
In a key interaction, the Chief Minister met Lim Yeang Yeow, Executive Director of KeppelCorporation, a Singapore-based conglomerate known for its expertise in urban development, infrastructure, and commercial real estate.
The duo discussed Keppel's prior engagement in Amaravati's development and explored renewed opportunities for collaboration. Mr. Naidu invited Keppel to take part in developing projects across IT, commerce, and housing sectors in Visakhapatnam, which he envisions as the future growth engine of Andhra Pradesh.
Later, Mr. Naidu held talks with Bryan Yeo, Chief Investment Officer of GIC, one of Singapore's largest sovereign wealth funds. The discussion focused on long-term partnerships and stable investments in the state, particularly in real estate, industrial development, urban infrastructure, healthcare, education, and civic amenities. The Chief Minister assured GIC that Andhra Pradesh would provide a supportive ecosystem for sustainable investments in these critical sectors and emphasized the vast potential the state holds.
In a separate meeting, Mr. Naidu met Kuok Khoon Hong, Chairman and CEO of Wilmar International, a global agri-business giant. The two leaders explored investment opportunities in food processing, edible oils, and agri-infrastructure. Mr. Naidu proposed that Wilmar can collaborate with the state to build a value-based agricultural market that directly benefits farmers and boosts the agro-economy. In response, Wilmar expressed keen interest in deploying its technological capabilities to support these efforts..
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
17 minutes ago
- Time of India
Falcon fraud: Rs 21 cr diverted to Goa casino, says Enforcement Directorate
Hyderabad: Enforcement Directorate's (ED's) investigation into the Falcon invoice fraud found that Amardeep Kumar, the key accused and director of Capital Protection Force Pvt Ltd, has allegedly diverted nearly Rs 21 crore to a Goa-based casino between 2021 and 2023, using both company and personal accounts. The casino alerted financial intelligence agencies regarding suspicious high-value transactions linked to Amardeep Kumar. Capital collected investments worth Rs 792 crore from investors under the guise of 'Falcon Invoice Discounting Scheme'. The accused promised investors high returns by claiming the investments would be used for invoice discounting activities. An app named 'Falcon Invoice' was developed to collect deposits and was promoted through Google, YouTube, and other digital platforms. However, the probe found that no actual invoice discounting business existed. ED stated that the scam proceeds were instead diverted to various personal and business interests of Amardeep. These include investments in equity shares, unsecured loans to companies, the purchase of an aircraft, and the acquisition of immovable properties. Properties were found registered in the names of Amardeep, his family members, Rhett Healthcare Pvt Ltd, and Rhett Herbal Pvt Ltd. A portion of the proceeds of crime was allegedly routed to a prominent casino in Goa. In March 2025, ED had seized a private jet — Hawker 800A — allegedly bought by Amardeep using proceeds from the scam. You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad According to the financial documents analysis, Rs 2.8 crore was paid directly from the company's account, while the remaining Rs 18.5 crore was transferred from Amardeep's personal accounts to the casino. The personal accounts of Amardeep had already received large sums — Rs 55 crore and Rs 35 crore respectively — from the Capital Protection Force company's main account. ED had found that Rs 2.82 crore was transferred directly from the account of Capital Protection Force Pvt Ltd to the company owned by the casino between Oct 2021 and March 2023. Another Rs 16.3 crore was routed from Amardeep's personal account — into which approximately Rs 55 crore was earlier received from the company — between April 2021 and Feb 2023. Additionally, Rs 1.15 crore was transferred between May 2023 and July 2023 from another personal account of Amardeep, which received about Rs 35 crore from the company's funds.
Time of India
17 minutes ago
- Time of India
Hyd startup EON Space Labs raises $1.2M in Pre-Series A funding
Hyderabad: EON Space Labs, a Hyderabad-based deeptech startup focused on building advanced imaging technologies, has raised $1.2 million (approximately 10.5 crore) in a Pre-Series A funding round from MGF Kavachh and HHV Advanced Technologies, both of whom have also come on board as strategic partners. Tired of too many ads? go ad free now Set up in 2022 by three former LV Prasad Eye Institute (LVPEI) employees—Punit Badeka, Sanjay Kumar, and Manoj Kumar Gaddam—the T-Hub and IIT-Madras incubated EON is building miniaturised, high-resolution imaging systems for use in satellites, drones, unmanned aerial systems, and fixed ground platforms. The company was also a winner of one of the iDEX (Innovations for Defence Excellence) challenges and Ramaiah Evolute. The startup said the funds will support the launch of MIRA, touted as India's lightest high-res space telescope that is three to four times lighter and smaller than currently available space telescopes, later this year in a mission in collaboration with another Hyderabad-based startup, TakeMe2Space, that plans to launch India's first AI laboratory in space aboard Indian Space Research Organisation's launch vehicle. "MIRA is a monolithic telescope that has been manufactured using ultra-precision technology and is made from a single piece of fused silica glass, a space-qualified material. We reduced the moving components into one single block of pure silica glass," Badeka said. The fundraise will also help fund the launch of four new LUMIRA electro-optical and infrared (EO/IR or day & night) imaging systems designed for long-range detection of humans, vehicles, threats, and UAVs to enhance surveillance capabilities for both drone and ground-based platforms for surveillance and disaster response. Tired of too many ads? go ad free now The LUMIRA variants will target up to 85% of the use cases in the global EO/IR surveillance market, which is currently pegged at around $11 billion. EON already bagged multiple commercial orders for LUMIRA following successful proof of concept demonstrations.
Time of India
20 minutes ago
- Time of India
BDO appointed receiver for Evergreen Power's Mauritius arm
NEW DELHI: Private equity (PE)-backed Evergreen Power has appointed BDO as a receiver, said people in the know. Evergreen Power's Indian operations have been recipients of capital through a Mauritius-based entity where the receiver has been appointed, they said. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program In Mauritius, receivers are typically appointed when creditors make claims on a company. "As a policy, Evergreen Power does not comment on market speculation or matters involving internal corporate structure or investor arrangements," the company said in a statement in response to ET's queries on the matter. Evergreen Power is executing tenders worth 1 gigawatt for state-backed entities such as Solar Energy Corporation of India (SECI), NTPC and SJVN . Indian banks have provided bank guarantees for projects that Evergreen Power has committed to execute, as per those in the know. "We remain committed to the development and execution of clean energy projects in India and continue to work closely with our partners and stakeholders," the company said. Live Events Evergreen Power is backed by UK-based Devonport Capital . The company has won tenders to set up electricity generation through solar, wind and hybrid methods. It has competed with well-known names like Adani Green , Sembcorp, Jindal Renewables and ReNew Power, among others, for these tenders. Evergreen Power was set up in 2012 as per its website, which states it has headquarters in Chicago and Mumbai. It developed its first renewable energy project, a 23 MW solar photovoltaic plant located in Telangana, in a joint venture with Hilliard Energy (US) in April 2016.
