AP receives investment proposals worth Rs 3.14 lakh cr

HYDERABAD: Andhra Pradesh government today said it has received 140 investment proposals worth Rs 3.14 lakh crore as part of the Partnership Summit to be held here from January 11.

The investment proposals are expected to create an employment potential of nearly 2.5 lakh, a statement from the Chief Minister's Office said today.

"The proposals cover mega projects, non-mega projects, public sector undertakings and categories include power projects, IT projects, infrastructure projects and tourism projects etc," it said.

The three-day CII Partnership Summit 2012 is expected to host policy makers and business delegations from countries like China, Czech Republic, Israel, Italy, Kuwait, Mali, Malaysia, Nigeria, New Zealand, Pakistan, Russia, Saudi Arabia, Sri Lanka, South Africa, Turkey, Uganda, Ukraine, UK, US and UAE.

Minister for Commerce and Industry Anand Sharma, National Security Advisor Shiv Shankar Menon are among the prominent speakers from India.

The summit, themed 'New Age Innovation Partnerships', would be the platform for exploring the various facets of innovation that can drive future global growth and the roles that India can play in fostering and strengthening the forces of such innovation, the statement said.

Chief Minister N Kiran Kumar Reddy said that the State Investment Promotion Board (SIPB) has already cleared 30 investment proposals worth Rs 76,552.44 crore with an employment potential of 71,908.

The proposals cover automobile, textiles, chemical and petro chemical, food-based industries, glass industries, mechanical-based industries, metallurgical industries, mineral-based industries etc.

The state Industries Department has released the names of the industries and their location along with investments and employment potential.