Andhra in 'fast forward' mode

Stating that Andhra Pradesh's growth was in a "fast forward" mode, chief minister Y S Rajasekhara Reddy said that his government would invest nearly Rs 46,000 crore on developing irrigation in nearly 65 lakh acres within the next five years.

Reddy was in Bangalore to participate in the CII Summit on 'Sustainable Public Private Partnerships in infrastructure'.

Speaking to mediapersons on the result of his deliberations in the last 24 hours, Reddy said, "Andhra is an agrarian state. We will do everything to promote agriculture in this state as it is abundant in natural resources. In the last 150 years, only 70 lakh acres have been irrigated. We have set ourselves a vision of irrigating 65 lakh acres at a cost of Rs 45,000 crore within the next five years."

During his visit to Bangalore, Reddy met nearly 150 leaders from various industries in Bangalore including Azim Premji, in various groups.

Reddy said, "I am sure Premji will also be viewing Andhra with a lot more interest. I have given them (various industry leaders) all the confidence and showcased Andhra as the right hub for their businesses," he said.

Placing importance on infrastructure bottlenecks like power, Reddy expressed happiness that Andhra is perhaps the only state to provide power at a cost of Rs 1.75 per unit. "We are placing a lot of emphasis to ensure that this power is properly exploited. Our intention is to develop industries from Kakinada to Vijayanagaram across Visakhapatnam."

Terming Andhra as the "Bulk Drug Capital of India", Reddy also highlighted that the state government is coming up with the Pharma City with an initial investment of Rs 300 crore. To be called as Jawaharlal Nehru Pharma City, it would encourage pharma companies to set up shop by providing a conducive environment for them. The Pharma City is expected to be formally inaugurated this month and would be spread over 3,000 acres.

The development of a Food Park in Chittoor is also on the cards to encourage food processing.

Continuing to place emphasis on agriculture, Reddy added that nearly 3,000 tmc of Godavari water flows into the sea every year as the state is located on a plateau.

In order to effectively utilise this water, the Andhra government has also decided to earmark 25 tmc of water on the Godavari belt and encourage industries to set up shop in this area. Reddy also expressed happiness that the concessional agreement for the all-important international airport in Hyderabad is likely to be signed this month.

It is being set up at a cost of Rs 1,600 crore. The government is also committed to setting up a port at Gangavaram, which is likely to see financial closure in the next two to three months. It is also hoping for a financial closure for the construction of a port in Krishnapuram within the next three to four months.

Expressing confidence that Tier II cities are not far behind, Reddy said, "Looking at the way in which IT companies are moving to Visakhapatnam, including those like HSBC, I would not be surprised if an international airport comes up there also."