AP News State Targets Rs. 1.5 Lakh Cr. Investments
 |
| State Targets Rs. 1.5 Lakh Cr. Investments |
|
|
Chief Minister Y.S. Rajasekhara Reddy has asked officials to optimise
efforts targeting industrial investment of Rs.1.5 lakh crore and
creation of five lakh jobs within the next few years. Reviewing the investment scenario on Wednesday, he said the flow of investments into the industrial sector had increased due to investor-friendly policies. He said the development of blue print now included creation of 10 knowledge SEZs and as many agri training institutes to make the State ‘knowledge epicentre’ in the country. Expressing happiness at the Reserve Bank of India’s report that Andhra Pradesh now ranked second in the country with a total investment of Rs.25, 173 crore during 2006-07, he said the efforts to attract further investments should be sustained. Fab City On the Fab City, officials informed him that Andhra Pradesh Industrial Infrastructure Corporation was welcoming all major fab manufacturers to become co-promoters in the project along with SemIndia. Dr. Reddy told them that a recent World Bank study showed Hyderabad as the most business-friendly Indian city. Though the State had lost the Volkswagen Car project, the Government could get hold of MLR Motors to set up a plant in Medak. He asked officials to continue striking a balance by spreading the industry across the State. Expansion of steel plant at Visakhapatnam with Rs.9,000 crore and HPCL expansion at Rs.12,000 crore and ONGC’s refinery at Kakinada and Bramhani Steels coming up at Kadapa with an investment of Rs.20,000 crore had altered the State’s profile completely, he said. On the other hand, major IT initiatives and expansion of Jawahar Knowledge Centres to all degree colleges to ensure 50, 000 jobs in Business Process Outsourcing sector and establishment of IIT and IIITs would lead to export of knowledge soon to all over the country, he said.
SOURCES:             |