AP to attract Rs 150 billion fresh investments

Hyderabad, July 9 (UNI) With the new Industrial Investment Promotion Policy, the Andhra Pradesh Government is expecting to attract Rs 150 billion fresh investments in the state.

APInvest, under the chairmanship of Chief Minister Y S Rajasekhara Reddy would meet prominent industrialists and global investors in Delhi, on July 13 in collaboration with Software Technology Park of India (STPI) along with the senior state officials.

Mr Reddy claimed that the state was endowed with best local-global connectivity, world-class infrastructure, low power tariffs, large consumer market, strong research and development base, availability of skilled manpower and investor-friendly policies to be projected as the most preferred destination for investments.

He said "we aim at a giant leap forward in industrial sector which dropped drastically to Rs 5,500 crore during 2001-05".

Promising that the state would extend tailor-made benefits to suit particular investment requirements on case-to-case basis for projects above Rs 100 crore, he said efforts were on to boost export level from the current 4.39 per cent to ten per cent.

Mr Reddy said the Government had the objectives of improving and strengthening the state economy along with raising the living standards of the people and ensuring employment opportunities.

The APinvest aims at inviting investors to explore and take advantage of opportunities in various sectors like Semi-Conductor manufacturing, IT, ITES, Biotech, Pharma, Food Processing, Tourism, Handlooms Textiles etc.

During his recent visit to Bangalore, the Chief Minister had a high profile interface with industrial giants and had invited them to invest in the state.

UNI BR JJ 1750