Visakhapatanam: Exuding confidence on making Andhra Pradesh the most favourable investment destination, Chief Minister N Chandrababu Naidu said the government is “confident” of setting up a petrochemical corridor, electronic hardware manufacturing and automobile hub in the state.
“We will build again. Everything will come as there is lot of opportunity here (in Andhra Pradesh). We will make it the most favourable investment destination,” Naidu said on the sidelines of the India Economic Summit here.
When asked how he planned to bring investment in the industrial sector in the state post-bifurcation as many IT industries near Hyderabad have gone into Telengana, he said the government is confident of building the state’s industrial fortunes again.
“I’m confident that not only IT, but also electronic hardware manufacturing, automobile, agro-processing, petrochemicals hub and pharma will come. Everything will come,” he added.
Speaking at a session earlier, Naidu — who took back the reins of the Southern state after a gap of 10 years — said that the government will ensure 24/7 power, water and fast clearances.
Besides, the Chief Minister laid out ambitious plans to make the state a favourable investment opportunity. “Andhra Pradesh has a 1,000 km coastline, no other state has such a large coastline. On the east cost we have 4 ports and we are going to develop another 10 ports. Ultimately we want to make Andhra Pradesh a port hub and a gateway for India,” he added.
On the issue of power, Naidu said the government will provide 24/7 cost effective power to the industries with dedicated feeder line for big industries.
“In the last 5 months I have increased the power efficiency from 65 per cent to 85-90 per cent. We are now looking at providing 24/7 cost effective power,” he said. Naidu said that if the documents provided by the interested entrepreneur or company are correct and in order, the state government will clear the proposal in 30 days.