Investments into Andhra Pradesh touched Rs 42,510 crore between April and August 2011, the highest compared with the other three southern states. Besides, projects worth Rs 18,000 crore would go on stream in the next 2-3 months, of which six will be in the Telangana region.
State minister for major industries, sugar, commerce and export promotion, J Geeta Reddy, said till August, 176 industries with investments worth Rs 42,510 crore came into the state, taking AP to the seventh position in the country.
“Despite calamities, both natural (in one year 5 major floods) and man-made (like Telegana), we managed to attract investments into the state. This was mainly due to diversification, both in terms of industries and geography,” she said. The minister was speaking on the sidelines of an event organised by Sri City, an integrated business city coming up in Tada on the borders of Tamil Nadu and AP.
The new investments will spread across steel, automobile, cement, bio-technology, paper, textile and others, added R Karikal Valaven, Commissioner of Industries, Andhra Pradesh
In the last two years, 15 projects worth Rs 15,772 crore providing employment to 38,000 people went on stream and in the next two to three months, 31 projects worth around Rs 18,000 crore will go on stream. These would generate employment to the tune of 91,000. Of the 31 projects, six will come up in Telegana region in Andhra Pradesh, he said.
The state has also decided to reduce the power cut for industries from two days to one day and by December it would be completely withdrawn, said industries secretary TS Appa Rao.
He added that the government was planning to increase power production in the state by an additional 17,000 Megawatt from the current 15,000 Mw over the next five years. This would make the state power surplus.
Commenting on exports, he said, in 2010-11 exports increased 21 to Rs 92,000 crore from Rs 76,000 crore in 2009-10.