The Chief Minister, N Kiran Kumar Reddy, had the last laugh amidst criticism from his own colleagues of the party. In spite of vast differences from within, the CM was positive in convincing the business professionals from almost 45 countries and has garnered investment proposals in various sectors to the tune of Rs. 6.50 lakhs Cr. The government managed to successfully organize the Partnership Summit, after nine years.
On the concluding day Friday at the Partnership Summit 2012 held at Hyderabad CM assured the launch of a G-2B portal within the next three months. This portal would be a one stop shop for industries where all kinds of deliveries would be done for the convenience of the industry. On the last day of the summit, he handed over sanction letters to 23 companies, whose proposals for investment of Rs.71,859 Cr were cleared last month.
Speaking on the various investments garnered by the state in the summit, CM informed media, that 243 proposals for investment of Rs.647,832 Cr, which is expected to generate employment for 678,597 people, were received. The CM also announced that for every major project an escort officer would be appointed to ensure hassle free clearances.
Among the major proposals by PSUs are expansion of the Visakhapatnam Steel Plant with Rs.42,500 Cr investment by the Rashtriya Ispat Nigam Limited (RINL), 9,760 MW power projects by APGENCO at a cost of Rs.51,211 Cr and Rs.5,000 Cr RLNG terminal by GAIL.
Among the major private players, GVK Energy Ventures will invest Rs.40,000 Cr in four projects to produce 6,400 MW.
GMR Holdings Private Limited will invest Rs.30,000 Cr to develop a refinery-cum-petrochemicals complex at Kakinada and another Rs.3,000 Cr for an integrated industrial township. BR Shetty and Group will set up a Rs.30,000 Cr refinery at Visakhapatnam.
Yash Birla Group proposed to invest Rs 10,000 Cr for a polysilicon -plant by Power solutions. The company will be producing Solar grade Polysilicon, Silicon Wafers, Solar Photovoltaic Cells, Solar Photovoltaic Panels at the plant. The Yash Birla Group has sought 450 acres near the Rajiv Gandhi International Airport at Shamshabad and another 250 acres for a wellness centre.
This was a major achievement to the CM, who had taken the reigns of the state amidst troubled waters and sailed across successfully. He has taken the state on to the threshold of an investment boom. The CM is sure to move ahead in the political ratings, ahead of his detractors. (AarKay)
