Industries worth Rupees 5,000 crore coming to State: Ranga Rao

Rajamahendravaram: Minister for Mines and Geology Ravu Venkata Sujaya Krishna Ranga Rao has said that many industrialists are ready to invest Rs 5,000 crore to set up various industries in the State.

Laying foundation stones to various development works at Rayavaram village of Mandapeta Assembly constituency on Friday, the Minister said that in the Investors’ meeting held in Visakhapatnam, several industrialists had come forward to start industries with Rs 10,000 crore. Out of it, in the first phase, Rs 5,000 crore investments are coming.

Chief Minister Nara Chandrababu Naidu has been putting his endeavour to develop industries in the State by giving subsidies to the industrialists. There is much scope for generating large number of jobs because of the upcoming industries, he said. Steps were taken to remove obstacles for the supply of sand for various construction works in the State. Persons, who want to take sand from the reaches, have to pay only transport and loading charges, the Ranga Rao said.

From Mines and Geology department, last year, the government earned an income of Rs 1,600 crore and this year there is scope to get Rs 1,800 crore, he stated. Mandapeta MLA Vegulla Jogeswara Rao, Mandal president M Meenakshi and senior officials were present at the foundation programme.