US firm keen to invest in AP: North America Principal Liaison Hari Prasad Reddy

The principal Liaison of the State of North America, Hari Prasad Reddy said the leading automobile company in the United States is ready for investments in the state of Andhra Pradesh. Hari Prasad Reddy, who has already examined cities like Mumbai and Chennai, is interested in investing in Andhra Pradesh as it is less expensive and has more skilled employees available, Hari Prasad Reddy said in a phone call from the US.

He said the company is in consultation with automobile companies, electric vehicles, auto parts and many other small scale designing companies. He said many companies are also ready to invest. Hari Prasad asserted that CM YS Jagan Mohan Reddy who held talks with various companies have shown willingness to invest in the state and they will soon come to existence. "The US companies, which are already investing in the country are gearing up to expand the business in Andhra Pradesh.

Earlier in last week, Switzerland-based IMR Metallurgical Resources AG has given the nod for setting up of a major steel plant in Kadapa district with an annual capacity of 10 million tonnes of worth Rs 12,000 crore. The IMR representatives called on Chief Minister YS Jagan Mohan Reddy at his camp office on Thursday and informed him.