CII Summit likely to attract 3 L cr investment: Ganta

Visakhapatnam: Minister for HRD Ganta Srinivasa Rao said that Andhra Pradesh would attract investments worth over Rs 3 lakh crore of during the third annual CII Partnership Summit to be held in the city from February 24-26.

The three-day partnership meet will attract investments in various fields, including tourism, automobile, textiles, food processing, medical equipment, renewable energy and other sectors and the panel discussions will focus on identifying various ecosystems and policy frameworks, growth and investment potential of the state.

The Minister, along with the senior officials visited, the APIIC grounds where the arrangements are being made for the summit on Thursday. On the occasion, addressing the media, Ganta Srinivasa Rao said that AP government would scrutinise the proposed projects registered in the summit before going to sign memoranda of understandings (MoUs).

Vice-President of India M Venkaiah Naidu would inaugurate the Partnership Summit and AP Chief Minister N Chandrababu Naidu would participate.  Senior bureaucrats from various states are attending the summit and Union Ministers Suresh Prabhu, P Ashok Gajapati Raju and others are coming to the summit.

While responding on the issues that due procedures were not followed in awarding the contract to the UAE-based LuLu Group for construction of an International Convention Centre and 5-star hotel in the city and irregularities in land allocation to CMR Group, Ganta Srinivasa Rao said the contract was awarded through proper global tendering process only.