News

All set for CII summit in Vizag from Feb 24

Ch RS Sarma Visakhapatnam | Updated on February 22, 2018 Published on February 22, 2018

All arrangements are being made to host the third edition of the partnership summit of the Confederation of Indian Industry here for three days from Saturday, according to State HRD Minister G Srinivasa Rao.

He told the media here on Thursday that the State had received overwhelming response to the summit when roadshows were conducted in the country and abroad. “However, we want to sign pacts only with serious parties and the total investment for the MoUs signed this time may be around Rs ₹3 lakh crore as against ₹11 lakh crore in 2016 and 2017 put together,” he said.

He said a special task force had been set up to pursue the business proposals for which MoUs had been signed during the previous two editions of the CII summit and the realisation was 29.81 per cent, much higher that achieved by other states including Gujarat. “Many of the projects are in different stages,” he said.

Denying Opposition allegations in the allotment of APIIC land in the city to the UAE-based LuLu Group for development of an international convention centre, he said the decision was taken in a ‘transparent way’ and it would enhance the brand image of the city. He said CII partnership summit are being organised at present in a make-shift venue for want of a convention centre.

He said that after following due process for bidding, the State had allotted the land on lease basis for 33 years to LuLu Group. Once the convention centre was ready, the city could host major events and he pointed how Andhra Pradesh had lost the opportunity to host Global Entrepreneurs Summit to Hyderabad last year for want of such a centre.

Published on February 22, 2018
This article is closed for comments.
Please Email the Editor