Andhra Pradesh Chief Minister N. Kiran Kumar Reddy has said that the IT Investment Region planned over 50,000 acres in the State will serve as a major attraction for investors.

He said that the State Government is in the process of notifying 50,000 acres for this mega project approved by the Central Government. As the project takes shape, the State IT exports now at about Rs 50,000 crore are projected to touch a whopping Rs 2,50,000 crore over the next 5-10 years.

Speaking at a meeting of Andhra Pradesh Real Estate Developers Association, he said the exclusive zone, the State’s and Hyderabad’s inherent plus points will attract huge investments.

The Rs 6,800-crore outer ring road of 158 km around the twin cities is unique in the country. It has potential to help develop the city along these roads.

Coupled with this, he said the development of the country’s biggest metro rail project will change the way people live in the city.

He felt that the ITIR and the potential to develop real estate around the outer ring road projects will have a major impact on the growth of the city over the next few years. Already, Hyderabad is an attractive investment destination and the development of the infrastructure will provide the necessary boost to developers.

Referring to Government efforts to strengthen the infrastructure, he said the implementation of the Krishna Phase III drinking water project, which seeks to bring about 5.5 TMC of water to the city, will be expedited.

"The Chief Minister said the city requires about 1 TMC per month and we have made arrangements for about 15 TMC for 12 months. Efforts are on to bring water from Godavari river too," he said.

>rishikumar.vundi@thehindu.co.in

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