AP readying feasibility reports for 130 projects

The foundation stone for IIM - Vizag will be laid on January 17 in Gambiram village near Vizag, chief minister N Chandrababu said

Andhra Pradesh chief minister N Chandrababu Naidu said the state government was preparing feasibility reports for 130 projects, which need about Rs 2 lakh crore investment.

Addressing industrialists during a meeting with Singapore delegates in Visakhapatnam, he said the government would give priority to local entrepreneurs to start these projects in collaboration with foreign companies and their investments. The government has introduced the 'single desk' system for early clearance of projects, he added.

Stating that the Singapore government had come forward to prepare the master plan for the development of the new capital, he said a delegation comprising businessmen and industrialist from Singapore was here to study the opportunities available in the state. Visakhapatnam, in this regard, he said had good potential for IT , tourism, education and port.

He also said the Birla group was starting an international school from the next academic year in Visakhapatnam. The AP government has also requested the group to set up its BITS engineering college here. Meanwhile, the foundation stone for IIM - Vizag will be laid on January 17 in Gambiram village near here, he stated.

S Eswaran, Minister for Trade and Investment, government of Singapore, said they had decided to work closely with the AP government in some sectors. "For better understanding the opportunities here, our high-level business and trade delegation is touring the state," he said.

He said Vizag could be developed as a logistic hub for doing trade and business with southeast countries, including Singapore, and could also become a manufacturing hub not only country's needs but also exports.