Chandrababu Naidu woos British investment for Amaravati

Addresses 300 investors at interactive session, asserts new Andhra capital will be among world's top 10

Chief Minister Chandrababu Naidu has made a strong bid to attract British investment in Andhra Pradesh, saying he planned to make his state's new capital Amaravati one of the top 10 cities in the world.

Speaking at an interactive session with about 300 investors here last night, Naidu said "India is the country to invest and in India, Andhra Pradesh is the place. We have decided to convert every crisis into an opportunity".

Recalling his earlier efforts to develop Hyderabad, Secunderabad and Cyber city, he said that "now Amaravati will be developed as one among top 10 cities in the world. I want to make Amaravati 2nd home for Londoners".

He said that in the next 10-15 years, Andhra Pradesh will be the number one state in India.

"With UK Government and Hindujas support we can do wonders," Naidu told the audience that included G P Hinduja, Co-Chairman of the Hinduja Group which had made substantial investment in the power sector in the state.

Naidu, who arrived here on a three-day visit to the UK, promised investors that he would ensure all approvals are made online within 14 days.

"We want to make Andhra Pradesh a Knowledge State and Education Hub," he said.

On the eve of his visit, British government agency UK Trade and Investment promised that British companies investing in Andhra Pradesh will get loans up to 85 per cent of the project cost.

Consulting firm PricewaterhouseCoopers has worked out an investment strategy for the companies seeking to invest in Amaravati, the capital of Andhra Pradesh.

The 43-page report titled 'Prospectus for AP' has over 20 projects listed in the state.

Naidu said: "Healthcare is one of the focus sectors of Amaravati city".