District Collector P. Raja Babu announced on Tuesday that investors from 12 different sectors participated in the ‘Business Elite Meet 2026’ event and Prakasam district received investment proposals worth approximately ₹320 crore during the summit. The district administration organised the event at the SGVS Convention Centre in Ongole on Monday.

“With the presence of Ramayapatnam Port and companies like BPCL and Indosol, along with a proposal from Jindal Steel for iron ore mining, Prakasam district has become a hub of opportunities. It has recorded a growth rate of 15.3%, and the Gross District Domestic Product (GDDP) stands at ₹73,331 crore. A 25,000-acre mega industrial park is also available in Donakonda,” the Collector said.

He said that the national highways and the Bengaluru-Kadapa-Vijayawada expressway have transformed the transportation landscape. He also noted that the district possesses a 20-km coastline with significant potential for development. He pointed out that 50% of the world’s cities have developed along the coast. He urged stakeholders to invest here by leveraging these facts.

Mr. Raja Babu urged the investors to leverage the existing infrastructure in the social, industrial and service sectors and act as a ‘catalyst’ for the district’s industrial development. He invited them to invest in renewable energy, real estate, hospitality and tourism, mining, organics, education, aquaculture and marine industries, pharma and life sciences, automobile, healthcare and the gold trade sectors.

Navayuga Engineering Company CEO S. Subba Rao, Indosol Solar Private Limited COO Balachander Krishnan, A.P. Projects CGM P.A. Shanware, A.P. Renewable Energy Operations Head Rajesh Patania, Athiratha Holdings director Chandrasekhar, Ravishankar Group chairman Kandi Ravishankar, along with representatives of several leading hospitality companies, attended the event.

Gurugram-headquartered real estate firm, Ocus Group, submitted a proposal to set up water adventure sports, a hotel, villas, and associated tourism facilities at Kothapatnam beach at a cost of ₹75 crore. Premium restaurant chain Alas Food World came forward to establish a beach resort at Pakala with an investment of ₹50 crore.

Upas Super Speciality Hospitals, meanwhile, proposed to set up a 500-bed multi-super speciality hospital at a cost of ₹75 crore and requested government support for the project. It’s representatives stated that the initiative would provide direct employment opportunities to over 1,000 people and indirect employment to more than 500.

Sri Manjunatha Hatcheries proposed to set up up a seafood processing unit in Prakasam district at a cost of ₹100 crore. Nageswara Rao, an entrepreneur from Ongole, requested land to set up a maize dryer unit in the district at a cost of ₹12 crore, providing employment to 150 people. Another local investor, Penubothu Ajith, proposed to set up a solar power plant with ₹7 crore.

State Energy Minister Gottipati Ravi Kumar, Ongole MP Magunta Sreenivasulu Reddy, MLAs Damacharla Janardhan Rao, B.N. Vijay Kumar, Mukku Ugra Narasimha Reddy, Kandula Narayana Reddy, and Eluri Sambasiva Rao, along with A.P. Tourism Development Corporation Chairman Nukasani Balaji and A.P. Maritime Board Chairman Damacharla Satya participated in the summit.