The Hindu : Andhra Pradesh News : Chidambaram predicts investment boom in State

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Wednesday, Aug 01, 2007
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Andhra Pradesh

Andhra Pradesh

Chidambaram predicts investment boom in State

– Satish. h

Charting progress: Finance Minister P. Chidambaram and Chief Minister Y.S. Rajasekhara Reddy at a press meet in Hyderabad on Tuesday.

HYDERABAD: Expressing satisfaction over the progress made in 10 major infrastructure and other projects costing more than Rs.40,000 crore in the State, Union Finance Minister P. Chidambaram on Tuesday said there would be an “investment boom” in the coming days in Andhra Pradesh.

Making a brief statement to the media after Prime Minister Manmohan Singh reviewed the investment proposals and infrastructure projects, he said many of the proposals were under implementation and some in an advanced stage of consideration.

The projects reviewed include 4,000 MW Krishnapatnam Ultra Mega Power Project, 520 MW Ramagundem thermal plant, HPCL refinery expansion and SEZ at Kakinada, expansion of Visakhapatnam port, Petroleum Chemical Petrochemical Investment Region, Visakhaptanam, Mass Rapid Transit System for Hyderabad, ORR and the expressway to the International Airport.

Mr.Chidambaram said the meeting noted down the responsibilities, timelines and dates by which the projects would be completed.

He said the Centre would closely monitor the schemes and positively look into the proposals put forward by the State Government.

He said the State Government had also made a presentation on energy, infrastructure urban development, road transport, railway projects among others.

Describing as a “novel experiment” the interaction held by the Prime Minister with the State Government here, he said the Centre would conduct a similar exercise with other States too.

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