The Hindu : Andhra Pradesh / Hyderabad News : Dubai Holdings to invest in State infrastructure

Online edition of India's National Newspaper
Tuesday, Jul 12, 2005

Andhra Pradesh

Andhra Pradesh - Hyderabad

Dubai Holdings to invest in State infrastructure

Staff Reporter

YSR holds discussions on cooperation, financing, marketing

HYDERABAD: Dubai Holdings, a leading Government organisation, has evinced interest in investing in the State's infrastructure development. It has assured full support, including creation of an "infrastructure fund".

The CEO of Dubai Holdings, Mohammad al Gergawi, gave an assurance to the visiting Chief Minister, Y.S. Rajasekhara Reddy, while interacting with the State delegation.

A press release issued by the Chief Minister's office said on Monday that Dr. Reddy told the meeting that the Government had prioritised infrastructure projects and asked Dubai Holdings to identify projects to which they can add value.

He invited the Crown Prince of Dubai and the UAE Defence Minister, Shaik Mohammad Bin Rashid al Maktoum, to visit Hyderabad. Members of the delegation held discussions with the Director-General of Dubai Economic Development, Mohammad al Abbar, on cooperation, financing and marketing aspects. The DED had a few months back sent a team here to study the proposed "knowledge corridor" and offer suggestions.

The team made a preliminary presentation on the project. The DED, which will work with the Department of Infrastructure, is to finalise a programme of action at the earliest.

The delegation visited the Dubai Internet City, Media City and Knowledge Village to study their functioning, particularly the application of IT.It also visited Dubai Marina, Emirates Hills and the Burj Dubai, which is going to be the world's tallest skyscraper. It will be completed in the year 2008.

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