 "Andhra CM makes fresh pitch for investment from global aerospace majors")
The chief minister said the state would be setting up a greenfield aerotropolis infrastructure project spread over 7,500 acres in Visakhapatnam district.
Naidu, who visited the Aero India at Yelahanka Air Force Station, about 20 km from here, said his government would be eyeing Rs 3,000 crore investment in the region.
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Andhra Pradesh has already received investment proposals from the defence public sector units like Bharat Electronics Limited and Defence Research Development Organisation (DRDO) for setting up their plants.
BEL has committed to invest around Rs 500 crore to set up a new manufacturing facility to manufacture wide range of weapon systems for both new and existing products.
Naidu said the state was planning to attract mega projects and industrial parks in defence manufacturing. This would also include SMEs and component makers working in the sector.
He said the state also plans to attract companies in the segments of air cargo, maintenance, repair and overhaul (MRO) and general aviation.
According to him, the aerospace segment in India, which includes both civilian and defence segment, is expected to attract a huge $50 billion investment. Besides, he said, there was likely $250 billion worth defence equipment procurement by India in the next decade.
On the other plans of the Andhra Pradesh government, the chief minister said it was collaborating with the Singapore government to create a master plan for the new capital. “This will be a world-class city similar to the one I had created in Hyderabad,” he remarked.
The newly-planned capital will be coming up in the Vijayawada region and is expected to be equipped with the latest technology. Similarly, the Andhra Pradesh government also plans to enable smart villages across the state.
Naidu said it was the aim of the AP government to be among the top three states in the country by 2022.