AP fin corp on investment drive

Andhra Pradesh State Financial Corporation (APSFC), in association with Rajasthani Graduates Association (RGA), organised a one day seminar on 'industrial opportunities in Andhra Pradesh' on Saturday.

Addressing the inaugural session, chief minister Y S Rajasekhara Reddy, said, "Our government believes that infrastructure must be ahead of the needs of economy. We have set up a full-fledged infrastructure department to devote undivided attention for creating world-class infrastructure."

In his keynote address, M Gopalakrishna, chairman, APSFC, said that the state attracted foreign direct investment, non-resident investment and that it was now the turn of indigenous investment.

Sohanlal Kadel, chairman, Industrial Seminar Committee, said that about Rs 600 crore worth proposals have been put up even before the seminar began and that they expect it to touch Rs 1,000 crore.

Speaking to Business Standard, Kadel listed some of the major proposals, which are expansion-based. These include two integrated steel projects at Mahbubnagar, Jairaj Ispat Ltd and Lakhani Integrated Steel at an investment of about Rs 400 crore and Rs 75 crore respectively.

Besides, a packaging industry, S S Poly Pack, to be run by woman entrepreneurs at a cost of about Rs 5 crore, will be set up at Hyderabad, he said.