'Visakhapatnam holds immense potential for industrial devpt'

Visakhapatnam,which is going to be declared as 'executive capital' of Andhra Pradesh, holds great potential for industrial development with natural advantages of being a coastal city and having Public Sector Units, AP Industries Minister M Goutham Reddy said here on Thursday.

"I would just like to tell all entrepreneurs who (have) come here (conference) that you will never see a much more welcoming state than Andhra Pradesh.

We also declared that Visakhapatnam is going to be the Executive Capital, which is basically creating a doorstep of economic revival, he said.

The Minister said the area, which would have executive powers, would witness an economic boom, supporting the investments that would come in.

"So I see this as a strategic advantage, he said.

Even in undivided Andhra Pradesh, Visakhapatnam had been the second city to come to mind, after Hyderabad, as an industrial corridor, he said.

"So it was natural for us to get into Visakhapatnam.

Andhra Pradesh Chief Minister Minister Y S Jagan Mohan Reddy had on December 17 indicated in the assembly that Andhra Pradesh could have three capitals as decentralization was a real concept.

He had said that the existing capital Amaravati, which is only in the basic stages of development, could become the "Legislative Capital", port city Visakhapatnam the "Executive Capital" and Kurnool the "Judiciary Capital".

Reddy said Visakhapatnam had been 'neglected'... it had lot of potential, there were existing industries, it's a coastal based city.... growth prospects would be good he told reporters here on the sidelines of a two-day US-India Defence Ties Conference, which concluded here on Thursday