Rs 72,000 cr investment proposals under consideration in AP

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Machilipatnam, Andhra Pradesh, Dec 16 (UNI) Andhra Pradesh Major Industries Minister J Geetha Reddy today said the state was witnessing huge investments and investment proposals to the tune of Rs 72,000 crore were under consideration.

Laying the foundation stone for a Jewellery Park at Potepalli village here, she said the government would release Rs one crore for developing roads to the Park.

Criticising the Telegu Desam Party (TDP) for levelling baseless allegations against the state government, she claimed that the Congress had made the state more investment friendly and more industries were now evincing interest to set up units in the state.

While the ONGC would set up a refinery at Kakinada with an outlay of Rs 18,000 crore, the HPCL would set up a facility at Visakapatnam steel city, she said.

She said the MLR Motors Factory would set up a car manufacturing facility at Gajwal in Medak district.

The Visakapatnam Steel Plant (VSP) would be expanded with an outlay of Rs 6,500 crore and another steel plant would come up at Kadapa district at an investment of Rs 20,000 crore, she said.

The 'Maytas Company', NTPC and Gayatri Industries had come forward to set up power plants here, she added.

UNI

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