The Hindu Business Line : YSR woos investors to Visakhapatnam

VISAKHAPATNAM is emerging as a favoured destination for many companies in India and abroad, and the State Government is keen on providing all facilities to the investors here, the Chief Minister, Dr Y.S. Rajasekhara Reddy, has said.

At a function here late on Monday evening to mark the launching of a mega housing scheme at Madhurawada, awarded to Jurong Infrastructure (India) Private Ltd, the Chief Minister said that several IT companies had evinced interest in opening branches here. "HSBC is already here. Satyam is going to open a BPO centre soon and hopefully Wipro should also be here,'' he said.

He suggested that the present TB hospital could be divided into 12 plots or so and given to the IT companies for setting up shop here.

He urged Mr Goh Song How, President and CEO of Jurong International, the parent company in Singapore, to apprise the other companies in Singapore of the facilities available here and encourage them to open branches.

The Chief Minister said 25,000 houses would be constructed in phases at Madhurawada in 50 projects. In the first phase, 2,000 houses would be taken up at a cost of Rs 150 crore.

Mr Goh Song How, the CEO of JTC Corporation, said the company was wholly owned by the Government of Singapore. Its subsidiary, Jurong Infrastructure (India) Private Ltd, had completed a major project in Bangalore — the International Tech Park (ITPL), which had won the World Teleport Property Award during 2002.

He said the company, based in Bangalore and having a branch in Hyderabad, would undertake infrastructure development projects.

He said his company was participating in six projects in the State, of which the Madhurawada housing project was the largest.

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