![]() Financial Daily from THE HINDU group of publications Saturday, Jul 16, 2005 |
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Industry & Economy
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Foreign Direct Investment AP team to visit VW headquarters Our Bureau
Hyderabad , July 15 A FOUR-MEMBER team from the State will visit Volkswagen, the German automaker's headquarters shortly to take up the issue relating to the funds deposited with Vashista Wahan, the special purpose vehicle, and also convince them to locate their Greenfield project in the State. According to Government sources, this follows a recent invitation by Mr Alfred Strohlein, Senior Counsel, Head of Group Legal, Foreign Holdings and Projects, Group Financing, Volkswagen AG. Following this development and decision by the State Government to institute a CBI probe into the Volkswagen deal, the Industries Commissioner, Mr Suthirtha Bhattacharya; the Vice-Chairman and Managing Director of Andhra Pradesh Industrial Infrastructure Corporation Ltd, Mr B.P. Acharya; the State adviser for Economic Affairs, Mr D.A. Somayajulu, and Principal Secretary, Industries, Ms Lakshmi Parthasarathi, are likely to leave for Wolfsberg, Volkswagen headquarters. The Opposition parties, including Telugu Desam, BJP, and the Left, meanwhile, stepped up pressure on the Government and wanted the Chief Minister, Dr Y.S. Rajashekhara Reddy, to sack Mr Botsa Satyanarayana, Major Industries Minister. Mr Satyanarayana, who was to hold a hurried media briefing in the morning, cancelled it. He was on Friday allocated the portfolio of marketing. Earlier in the day, a TDP delegation headed by Mr K. Yerran Naidu, MP, Mr R. Chandrashekhara Reddy, Mr Ch. Rajeshwara Rao, and several other senior leaders, including Mr Devender Goud, called on the State Governor, Mr Sushil Kumar Shinde, and urged him to convene the State Legislative Assembly, to discuss threadbare the issue relating to the car project.
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