Andhra Pradesh eyes Rs 50,000 crore investment in infrastructure sector in next 2 years

HYDERABAD: Andhra Pradesh aims to attract investments to the tune of Rs 50,000 crore in the next two years in the infrastructure sector.

This will be in addition to the Rs 6.47 lakh crore investment proposals for multi-sectoral projects it received during the recent Partnership Summit-2012.

"We want to the attract massive investments into ports, airports, natural gas and other infrastructure projects in the next two years and take Andhra Pradesh ahead of Gujarat," state Infrastructure and Investments Minister Ganta Srinivasa Rao said.

Talking to newsmen after taking charge of his portfolio, Srinivasa Rao said, infrastructure held the key to the state's progress.

"In the last two years the state suffered considerably due to various reasons. Now things have returned to normal and investments are coming in again. We have to lead them in a new direction," Srinivasa Rao added.

Questioned about his holding the Infrastructure and Investments portfolio - which also includes airports, ports and natural gas - as he is into shipping business, the new minister said, "If there is any conflict of interest, I will do the needful."

After assuming the charge, the minister signed a file seeking the Airports Authority of India's approval for operationalising the newly-constructed terminal building at the Rajahmundry airport. The new terminal building was built at a cost of Rs 30 crore.

Earlier, Srinivasa Rao assumed charge of his office with a lot of fanfare in the presence of Praja Rajyam Party president K Chiranjeevi, ministers Aanam Ramanarayana Reddy, Erasu Pratap Reddy, Ponnala Lakshmaiah, C Ramachandraiah and several MLAs.

Principal Secretary (Infrastructure and Investments) Sutirtha Bhattacharya and Director of Ports Muralidhar Reddy were also present.