A 'South Korea City' is expected to come up in Andhra Pradesh's new capital Amaravati or elsewhere in the state as Chief Minister N Chandrababu Naidu today invited industrialists from the East Asian country to set up their ventures here. "We will extend full co-operation and encouragement from the government if you make Andhra Pradesh your second capital and set up industries in a big way.
We will develop a South Korean City, on the lines of Busan in your country. "We will sign MoUs if you come up with comprehensive proposals and designs," Naidu told a delegation of South Korean industrialists here. Showcasing South Korean automobile giant Kia Motors, which is setting up its car manufacturing unit in Anantapuramu district, as the mascot, the chief minister tried to woo other industrialists from the East Asian nation to the state. "We share similarities in size and population and we are both blessed with a vast coastline. We are rich in natural resources and I am very interested to collaborate with South Korea, the chief minister told the visiting delegation. "Even if all the 3,000 South Korean companies come here, you have immense opportunities for all," he added. Naidu offered land, water, uninterrupted electricity and other incentives for the Koreans in his bid to woo them to the state. A release from the CMO later said the visiting delegation proposed to bring in at least 30 companies in sectors like electric steel, logistics, automobile components, heavy equipment manufacturing, ship-building, liquors, medical and marine equipment, to AP. Industries Minister N Amarnath Reddy, Industries Secretary Solomon Arokia Raj, Commissioner Siddharth Jain, AP Industrial Infrastructure Corporation managing director Babu Ahamed and other officials were present at the meeting.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)