Dubai Holdings assures infrastructure fund

Dubai Holdings has evinced keen interest in the new infrastructure development projects in Andhra Pradesh. During a meeting with chief minister Y S Rajasekhara Reddy, Mohammed Al Gergawi, CEO of the company, assured full support including the creation of an infrastructure fund.

A high-level delegation led by the chief minister is currently in Dubai as part of a three-nation tour which is concluding tomorrow.

Dubai Holdings is a Dubai government's leading investment arm, which currently holds 17 companies ranging from health, technology, finance, real estate and research among others.

According to a press release issued by the chief minister's office, the company will commence detailed discussions on investment prospects with the state government soon.

The Andhra Pradesh delegation also held discussions with Mohammed Al Abbar, director general of Dubai Economic Development and chairman of EMAAR Properties in order to look into the structure of the cooperation, and financing the project among others.

A few months back, Dubai Economic Development had sent a team of experts to Hyderabad to study the proposed 'Knowledge Corridor' and offered suggestions, the press release said.