Andhra Plans To Set Up Japanese Corridor In Vizag

The Andhra Pradesh government is planning to set up a Japanese Corridor in Visakh-apatnam to invite fresh investments from Japan-based industries. The state government made the announcement at the concluding session of the two-day Intern-ational Investment and Technology Conference here yesterday.

The government has promised to ensure international standard infrastructure facilities at the complex.

It has suggested to Toyota Motors that it could locate its proposed passenger car project in the corridor where provision will also be made for several auto ancillary units.

A dedicated power plant for uninterrupted quality power would also be provided at the corridor.

Industry secretary Sheel Bhide said the Japanese Ambassador had visited Visakhapatnam recently and was impressed with the facilities available at the port town. Japanese industry representatives had also visited the proposed site and welcomed the proposal, Bhide told Business Standard.

Although only few investment enquiries were received at the conference, it provided a platform for the political and bureaucratic leadership in the state to interact with Indian as well as foreign entrepreneurs.

We expect positive results to come only after those who attended the conference interact with their executives, said industries commissioner A Mishra.

Commerce minister B B Ramaiah, who presided over the valedictory function at the conference, said agro industries, minerals and salt-based chemicals should form the core areas for the state to attract investment.

Chief Minister N Chandrababu Naidu told the concluding session that in the next three years his party would concentrate only on the economic development of the state.

Naidu assured investors of politically stability in the state. He said his party had 220 member in a house of 294 while friendly parties had another 32 members.