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Wed, Mar 20, 2019 | Last Updated 8:23 am IST

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Naidu claims big investment offers for AP

Naidu claims big investment offers for AP
Naidu claims big investment offers for AP

Chief Minister N Chandrababu Naidu, who is currently in Singapore for the three-day World Cities Summit, claimed that several companies are ready to invest in Andhra Pradesh. On his first day, the Chief Minister’s Office in Amaravati claimed that companies like SMH Rail from Malaysia, Royal Holdings from Singapore and Lodha Developers Ltd from Maharastra have expressed interest to invest in metro rail manufacturing, real estate, infrastructure, entertainment, housing and other sectors.

Naidu claims big investment offers for AP

Chandrababu Naidu held several bilateral and business-to-business meetings with representatives of several firms projecting AP as the prospective investment destination. The project director of Malaysia-based SMH Rail, Zahrin Zaman, informed that the firm found Andhra Pradesh as the most suitable place to establish a metro rail manufacturing unit. The representatives of the firm informed Chandrababu Naidu that SMH Rail has expertise in converting old locomotives as new locomotives, train wheels and electric train components, and is working with several multinational companies, including Siemens, General Electric, Alstom, Hyundai and others.

Naidu claims big investment offers for AP

In another meeting, the managing director of Eli Hajaj group, Ofer Gabinet, told Chandrababu Naidu about the firm’s interest to set up an aero hub in AP to produce 75 per cent of its aircraft components and promised to start production within six months if the government allotted necessary land.The CEO and managing director of Lodha Developers Pvt Ltd, Abhishek Mangal Prabhat Lodha, has come forward to invest in malls and open spaces for amusement in Amaravati. “We will visit the capital region in September and submit our proposals,” he said. Singapore-based Royal Holdings, a housing and health resorts firm, also expressed its readiness to invest in Amaravati on housing and health resorts.

Later, Chandrababu Naidu met the Director General (Investment Operations) of Asian Infrastructure Investment Bank (AIIB), Pang Yee Ean, and sought financial assistance to the State government without the involvement of the Centre.Meanwhile, the CEO of Dassaults Systems, Bernard Charles, explained the firm’s plans to reduce day temperature in the capital region with the help of water conservation. The Chief Minister said that the services of the group would be used for developing smart cities. The group has agreed to visit Amaravati in September and prepare an action plan by December.

Naidu claims big investment offers for AP
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