YSR Reddy calls Singapore to invest in AP

Singapore, May 11 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy today called on industrialists of Singapore to take advantage of the infrastructure and facilities to invest in the wide range of industries in the state.

Addressing a business seminar, Dr Reddy invited companies to become partners in the state's industrial development, especially covering chemical and petrochemicals, refining, steel, electronic hardware, life sciences, port and airport developments and aero parks.

''The state is the most preferred IT destination in the country.

It has recorded a growth of 51 per cent in IT exports against the national average of 36 per cent,'' Dr Reddy added.

He said the state government got as many as 45 SEZs sanctioned and the Apache-Adidas, Gitanjali Gems and Jewellery, Wipro and TCS SEZs has already started functioning.

Dr Reddy said Andhra Pradesh was strong in the power sector due to an advantageous mix of thermal, hydro and gas power.

Avalability of huge resources of coal, perennial rivers and the recently found natural gas in the Krishna Godavari basin were major advantages for the state, he added.

The MNCs are also holding campus recruitment campaigns at the universities and colleges, which has never happened before, said Dr Reddy, who is on a three-day visit to Singapore.

He today met Singapore Prime Minister Mr Lee Hsien Loong and senior Minister Mr Goh Chok Tong and discussed his state's business opportunities.

Andhra Pradesh's gross state domestic product was 270 billion dollar last year, as compared to Singapore's 138.5 billion dollars, Dr Reddy added.

UNI