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Hyderabad, Jan. 19

SKODA Export Company Ltd, a Prague-Czech based company, is set to participate in the development and construction of Nizampatnam Port city complex in Guntur district.

According to a press release from the Chief Minister's Office, the Czech Exim Bank would support the port project by financing it to a tune of Rs 10,000 crore over a five-year time frame. This project is likely to generate 10,000 jobs.

A memorandum of understanding to this effect would be signed with the Andhra Pradesh Government in the second week of February during the visit of Czech Industries Minister.

Meanwhile, the Prime Minister of Czech Republic, Mr Jiri Paroubek, will visit Hyderabad along with a business delegation as a part of his tour of Kolkata and Chennai on January 19.

(This article was published in the Business Line print edition dated January 20, 2006)
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