Bharath upbeat over flow of investments into AP

Kurnool: Minister for industries, commerce and food processing TG Bharath said that under the leadership of Chief Minister N Chandrababu Naidu, the state is going to flourish in industrial sector as several foreign investors are showing keen interest to set up industries in.

Speaking toThe Hans India, Bharath said that hardly four months have passed since the TDP-led alliance government came to power, huge response is witnessed from the reputed companies on opportunities in the state.

The industries minister said recently Vermeiren India Rehab Pvt Ltd delegates have come forward to expand their business in Sri City. They are expected to invest a minimum of Rs100 crore. Similarly, the Central government is likely to sanction Rs 1,800 crore to develop the industrial corridor at Orvakal mandal in Kurnool district. Under the previous government, a multi crore company which was supposed to start its business in Andhra Pradesh with a minimum investment of Rs 3,000 crore has changed its decision and started its unit in Chennai. Now they are showing interest to come back to AP, said Bharath.

He further said the Jayaraj Ispath steel plant at Orvakal has been completely neglected under the previous YSRCP government. He assured that the current government will extend necessary assistance to the prospective investors.

He said several industrialists are coming forward to invest in Orvakal industrial corridor. Any kind of industry could be set up at Orvakal corridor as it falls in red zone.

“We will bring in huge investments from United Arab Emirates (UAE). With regard to economic ties and investments between Andhra Pradesh and UAE, a round-table was held at Amaravati,” he said.

The ambassador of UAE and businessmen from Dubai participated. The UAE ambassador has expressed his keenness to invest in Andhra Pradesh,” said the minister.

He said under the guidance of the Chief Minister, they will bring new industrial policy to attract more investments into the state. “The visionary leader Chandrababu Naidu is aiming at creating more number of jobs to the unemployed youths by setting up industries at Orvakal Industrial Corridor,” Bharath added.