PM reviews Rs 40,000 cr proposals of Andhra

Prime Minister Manmohan Singh along with Finance Minister P Chidambaram on Tuesday reviewed the status of 10 investment proposals both under implementation and in advanced stage of consideration, worth about Rs 40,000 crore pertaining to state.

This was part of the first-ever day-long review meeting of states' issues.

Chidambaram said they had taken a positive view of these proposals and would follow them up.

"There will be an investment boom in Andhra Pradesh," he said stating that the cost of these proposals constitutes only the development expenditure and the investments that would come on account of these projects would be much higher.

The proposals are: 4,000-Mw Krishnapatnam ultra mega power project in Nellore, 520 Mw Ramagundam power project, Karimnagar, HPCL refinery expansion project at Visakhapatnam, proposed ONGC refinery, and SEZ at Kakinada, Petroleum, Chemicals and Petrochemical Investment Region at Visakhapatnam, multi-modal transport system, Outer Ring Road and expressway projects at Hyderabad.

"Spending a whole day looking at the development, investments and other issues of a state is an extremely satisfactory and novel experiment," he said.