The Hindu Business Line : Investor confidence high in AP: CM

INVESTOR confidence in Andhra Pradesh is upbeat, especially after the recent outcome of the elections to the local bodies, the Chief Minister, Dr Y.S. Rajasekhara Reddy, said here on Monday.

The confidence is clear in the boom being witnessed in the real estate. The drubbing suffered by the Telangana Rashtra Samithi (TRS), espousing the cause of a separate Statehood for Telangana, has only helped boost the investor confidence, he asserted.

Talking to newspersons on the eve of the State Formation Day (November 1), the Chief Minister said his Government would take more steps to translate this confidence into big investments.

Dr Reddy said infrastructure in Hyderabad was being strengthened. He cited the eight-lane outer ring road project, the Greenfield international airport and the knowledge corridor as major examples of these initiatives.

To queries on whether his Government would welcome investors in IT, especially those unhappy with the infrastructure in Bangalore, Dr Reddy said `yes'.

On the issue of the State failing to attract major investments in the manufacturing sector, the Chief Minister said it was not true. Big investments were expected in the next few months, especially in the petroleum sector, where the Oil and Natural Gas Corporation (ONGC), Oil India and a large private company were coming in a big way. Similarly, the Jindal's were setting up a bauxite smelter unit in Visakhapatnam, he said.

Dr Reddy, who fielded a range of questions on politics, Telangana and development, said the neglect of irrigation over the last 10 years, especially when the State passed through drought was responsible for the revival of the Telangana demand. He said people wanted water for irrigation. His Government was committed to implement irrigation projects in Telangana, Rayalseema and coastal Andhra.

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