Hyderabad, June 04: The Chief Minister Mr N. Kiran Kumar Reddy will use the “Telugu connection” to realise his target of attracting Rs 1 lakh crore worth of investment in the current financial year. At a high-level meeting held recently it was decided to explore the possibilities of attracting public sector undertakings to the state using the good offices of ministers and bureaucrats hailing from the state.
Sources told this newspaper that the Union petroleum minister, Mr S. Jaipal Reddy, will be entrusted with the responsibility of urging the oil giants in the public sector to invest in at least two projects, including one in the Telangana region to which he belongs. “The top brass in these PSUs indicated to us their need to set up projects and all we need is a determined effort from Mr Jaipal Reddy to bring these projects to the state,” sources close to the Chief Minister said. The meeting also decided to use the good offices of Mr Jaipal Reddy in pursuing the proposal of Hindustan Petroleum Corporation Limited becoming the anchor client of the Petroleum, Chemical and Petrochemical Investment Region.
HPCL, which initially showed enthusiasm, later developed cold feet, sources said. The Union minister of state, Mr A. Saipratap’s presence in the ministry of heavy industries could help attract investments from BHEL. Incidentally, the BHEL boss, Mr B.P. Rao, is also a Telugu. The Chief Minister’s close pal and Union minister of state for defence, Mr M.M. Pallam Raju, said he was willing to lend a helping hand to mobilise major projects of the defence establishments for the state. BDL has already approached the state government for land in Anantapur for setting up its missile units and efforts will be made to tap other defence establishments also, a senior official said.