Chandrababu Naidu Invites Australian Firms to Invest in Andhra Pradesh

Chandrababu Naidu Invites Australian Firms to Invest in Andhra Pradesh

File Photo: Chief Minister of Andhra Pradesh N Chandrababu Naidu.

Hyderabad:  Andhra Pradesh Chief Minister N Chandrababu Naidu today invited Australian companies to invest in the state, especially in sectors like energy, mining, resources, infrastructure and financial services.

Addressing India-Australia Summit, organised by the Confederation of Indian Industry (CII) in New Delhi, he also sought investment in food security, agriculture, water management, education, tourism and health, technology and information technology sectors.

Mr Naidu was confident that Andhra Pradesh will become a pioneering state in development in all sectors by 2029.

He said since Andhra Pradesh is the new state, the central government of India will "very soon" announce a special package and this will help the state attract more investments.

He said the state is geared up to become the "logistic hub" for the country because of its "strategic location". The state is further expanding its port infrastructure, connectivity through road, rail and air, besides industrial estates.

Mr Naidu told the investors that his government has announced a new industrial policy, under which investment proposals will be cleared at a single desk. Claiming that the state has immense potential to attract industries, he said it has abundant human and natural resources.

Mr Naidu told the summit that his government is in the process of developing a Petroleum and Petrochemical Investment Region between Visakhapatnam and Kakinada Region in an extent of 603 square km.

He said Chennai-Bangalore Industrial Corridor has lot of scope for mineral-based industries, leather training industry, automobile and glass industry, while the Visakhapatnam-Chennai Industrial Corridor could benefit petroleum, steel, fertilizer, power, minerals, edible oil refineries, automobile, textiles, cement, chemical, biotechnology and food processing sectors.

Earlier, Mr Naidu met Australian Trade and Investment Minister Andrew Robb to discuss emerging new opportunities to boost trade and collaboration.

Australian High Commissioner to India Patrick Suckling said the relationship between Australia and Andhra Pradesh has been growing rapidly, and there is a great opportunity to deepen ties further, said a statement.

"Andhra Pradesh is one of the most forward-looking states in India, and has shown that it is open for business," Suckling said.

Robb and Naidu discussed potential collaboration between Australia and Andhra Pradesh in a number of key areas of Australian expertise, including mining, infrastructure, dairy, water, education and road safety.

Mr Naidu also met Australian Assistant Minister for Infrastructure and Regional Development Jamie Briggs, and Australia's Parliamentary Secretary for Agriculture Richard Colbeck. They discussed opportunities in several sectors, including dairy, sustainable fisheries, water basin management and infrastructure.

Sean Kelly, Australia's Consul-General to South India, said discussions also focused on how Australia can assist Andhra Pradesh as it develops its new capital city at Vijayawada.

"Australia has strong expertise in the areas of urban development, energy and infrastructure, and we look forward to sharing this expertise with Andhra Pradesh as it develops its new capital city," Mr Kelly said.

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