AP bags 1.08 lakh crore investments in six months

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Hyderabad, Oct 26 (UNI) In a major achievement, Andhra Pradesh has recorded a massive investment of Rs 1,08,559 crore in the industrial sector in the first six months of the current year, with a potential of creating around three lakh new jobs, due to the pro-industry policies of the State Government.

Andhra Pradesh Chief Minister Y S Rajasekhara Reddy revealed this while reviewing the industrial investments in the State.

Referring to a recent survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) Dr Reddy said the investor-friendly industrial policy along with proactive administration had ushered in silent revolution in industrial sector in the state, which was fully utilising its natural and human resources.

The survey further pointed out that Andhra Pradesh has emerged as the fifth largest economy in the country with a potential to attract Rs 10,00,000 crore investments by 2012, he said.

The Chief Minister said the latest civilian nuclear deal would facilitate an investment of Rs 50,000 crore in nuclear energy sector in the state which has deposits of Uranium and other radio active minerals.

Pointing out that a Uranium extraction plant and a nuclear power plant with a capacity of 2,000 MW would come up in Kadapa district, Dr Reddy said sunrise sectors like Bio-technology, Nano technology, Robotics and Automation sectors were expected to attract investments of Rs 50,000 crore in the next two years.

The Krishna-Godavari basin with the new oil and gas finds would enable another Rs 50,000 crore investment in fertiliser and power sectors, he added.

He said the proactive steps of the State Government in boosting agriculture and industrial infrastructure in the last four-and-a-half years helped the State become the second best investment destination in the country from its seventh position.

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