Russia keen on investing in infrastructure: envoy

Hyderabad, June 6 (UNI) Russia is eager to promote both public and private investments in the infrastructure sector in india, Russian ambassador in India Turbnikov Viacheslav Ivanovich said today.

Russia was keen on moving from state to state ties to business-2-business relations and facilitate investments in infrastructure projects in telecommunication, space, civil aviation and information technology, Mr Ivanovich, who was here in connection with the commencement of the Rs 699 crore first phase of the world-class eight-lane Outer Ring Road(ORR) phase I-package I told reporters.

Russia, which had opted for market economy like India, was not interested in taking back the more than Rs 4,500 crore surplus accumulated under the Rupee-Rouble exchange programme over a period, but wanted to invest here, he said.

Senior Congress leader R Sambasiva Rao, MP, urged the state government to forward proposals to attract more Russian investments to the state.

Earlier, taking part in the function to mark the commencement of the work on the project for which Prime Minister Manmohan Singh had laid the foundation stone recently, the Russian envoy observed that Andhra Pradesh deserved investment in infrastructure sector.

Andhra Pradesh Chief Minister Y S Rajasekhara Reddy was keen on ensuring completion of the project coinciding with the greenfield international airport at Shamsabad for the all-round development of the state which had become an investment destination for leading companies, Information Technology and Communications Minister P Sabita Indira Reddy said.

The state government was particular that those displaced by any development project were first provided adequate compensation before the commencement of works, Municipal Administration Minister Koneru Ranga Rao, who took part in commencement of work of phase II of the project by Continental Engineering Corporation, Taiwan said.

UNI SM VV 1804