Lokesh invites Russian investors to invest in space, steel and manufacturing

Vijayawada: Positioning Andhra Pradesh as India’s emerging hub for space technology, aerospace, advanced manufacturing, and green industrial development, IT and HRD minister Nara Lokesh made a strong pitch to Russian investors at the St Petersburg International Economic Forum (SPIEF) 2026, inviting them to use the state as a gateway to India’s rapidly expanding economy.Addressing the Russia-India business dialogue on Thursday, Lokesh showcased Andhra Pradesh’s ambitious plans to build a world-class space ecosystem while simultaneously pursuing major investments in steel, semiconductors, aerospace, energy, and advanced manufacturing sectors. He urged Russian companies to become long-term partners in the state’s growth journey.Highlighting Andhra Pradesh’s unique position in India’s space programme, Lokesh noted that the Satish Dhawan Space Centre at Sriharikota, India’s only operational spaceport, has launched more than 100 missions and continues to serve as the country’s primary gateway to space. The state has launched Space Policy 4.0 and is developing dedicated space cities to support satellite manufacturing, launch systems, research and deep-tech innovation, he said, adding that a flagship project under the initiative is the proposed Tirupati space city, spread over 3,000 acres near Sriharikota.“The project aims to attract nearly $4 billion in investments and create an integrated ecosystem for launch vehicle assembly, avionics production, satellite manufacturing, and next-generation space technologies. Andhra Pradesh is the natural home for Roscosmos technology partners, propulsion system developers, satellite integrators and space-tech enterprises seeking to participate in the world’s fastest-growing space economy,” Lokesh told the gathering.He also highlighted the state’s emerging advanced manufacturing corridor in Sri Sathya Sai district, which is strategically located near Bengaluru and is being developed to attract investments in aerospace components, drones, avionics, naval systems, semiconductors and microelectronics.On the sidelines of the forum, Lokesh met Ivan Demchenko, chairman of Russian metallurgical major Novostal-M, and invited the company to establish advanced steel manufacturing facilities in the state. He proposed setting up a state-of-the-art Electric Arc Furnace (EAF) steel plant to manufacture high-grade rebar and wire rods, citing India’s growing infrastructure demand and investor-friendly policies.Lokesh also sought investments in a railway track rolling mill and structural steel manufacturing facility at Sri City, along with a specialised galvanised wire plant catering to the automotive and shipbuilding industries on the Chennai-Bengaluru Industrial Corridor. He further proposed a joint venture to develop a raw-material logistics hub with dedicated waterfront berths and invited collaboration in low-carbon steel production linked to India’s expanding renewable energy sector.Demchenko said Novostal-M, which produces 2.8 million tonnes of steel annually and exports to over 60 countries, would examine the proposals. He noted that the company supplies premium steel products for major infrastructure, railway and industrial projects worldwide.Calling for deeper India-Russia cooperation in future-oriented industries, Lokesh said the historic partnership between the two countries was ready for “the next orbit.” He invited Russian industries, technology firms, energy companies and manufacturers to invest in Andhra Pradesh not merely as investors, but as long-term partners in building sustainable growth “on the ground, in the sea and in the stars above.”