Andhra Pradesh   

NRIs offer to set up five star hotel, textile mill

Special Correspondent

YSR assures Government support for new projects

HYDERABAD: Overseas Indians offered to set up a five star hotel near the upcoming Hyderabad International Airport, a resort in Adilabad and a textile mill in Guntur district during an interactive session with Andhra Pradesh Chief Minister Y. S. Rajasekhara Reddy at the Pravasi Bharatiya Divas meeting here on Sunday.

Dr. Reddy assured them that his Government would be pro-active and extend all help. He was fielding questions from them after the Principal Secretary, Industries, Lakshmi Parthasarathy, and CEO, AP Invest, C. S. Rao, made power-point presentations on the facilities and incentives being offered by the Government for investors in the State.

When an NRI said that he wanted to invest in irrigation projects, the Chief Minister said that there were constraints for the State Government to borrow, adding "we have not yet thought of going in for irrigation bonds." The Government had earmarked its own budget and planned to complete projects in a time-bound manner.

A U.S.-based Indian complained that there was no response from the Roads & Buildings Minister to his offer to provide expertise to curb the alarming increase in road accidents.

Dr. Reddy admitted that road safety had to improve in the State and that his Government was taking measures in that direction. He offered to ask the R&B Secretary to interact with him.

To a query on what the Government was doing to protect landed properties, he said the rules were not very effective and jocularly remarked that even Charminar could be sold. To tackle this problem, an innovative project (Integrated Land Information System) was launched in Nizamabad district to maintain a clear record of properties.

New projects

Later, Veda Reddy, who runs a restaurant in New Jersey, told reporters that she planned to invest Rs. 5 crores for setting up a resort in Adilabad.

Sri Shiva, president of Indo-American Finances from New York, said that he proposed to set up a textile mill of 100 looms with an investment of Rs.200 crores at Vadlamudi in Guntur district.

He said the World Bank was willing to finance the project.

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