Hyderabad, March 03: Even as the unrest in the state continues with regard to the demand for separate Telangana, chief minister N Kiran Kumar Reddy on Wednesday said that investments to the tune of Rs 3 lakh crore is coming to the state in the next few months.
“It might not be right at this juncture to name the companies that are showing interest to invest in the state.
But Rs 3 lakh crore investment with an employment generation capacity of 3.5 lakh are expected to be created in the state,’’ Kiran Kumar Reddy said after inaugurating the Carbon Black Project, promoted by Taiwan- based Continental Carbon. The plant will be set up in Visakhapatnam district.
The chief minister said that black carbon industry in Andhra Pradesh has a bright future since automobile companies like Mahindra and Mahindra, Royal Enfield have decided to set up plant here.
Perhaps hinting at the scandals involving the awarding of lands by the APIIC, Kiran Kumar Reddy told the Continental Carbon officials that the government policy is clear — the company should benefit the state, by providing jobs to locals rather than making just profits for themselves.
The total investment in the Carbon Black Project is about Rs 1,500 crore and the first phase is expected to be completed in 18 months.
Continental Carbon president Kim KT Pan said in the first phase 1,500 jobs will be created.
Union minister of state for human resources development D Purandeswari speaking on the occasion said that despite the state undergoing political turbulence, several surveys have indicated that Andhra Pradesh is one of the best investment destinations in the country. “Decentralisation of development will help in reducing regional imbalances,’’ Purandeswari said keeping in view the ongoing Telangana movement.
–Agencies