State hoping to net huge investments

HYDERABAD: The state government is looking at the new year with the hope of netting an investment of Rs 76,552 crore in the form of 30 companies, providing employment to 71,908 youths.The AP State Investment Promotion Board, chaired by chief minister N Kiran Kumar Reddy, noted with satisfaction that next year there would be significant flow of investments into eight sectors - automobiles, textiles, chemical and petro-chemical, food-based industries, glass, mechanical-based industries, metallurgical and mineral-based industries.Out of 30 investment proposals so far, three have been kept on hold, said industries minister J Geeta Reddy while hoping that they too would be cleared soon. The board meeting was attended by members Geeta Reddy, revenue minister N Raghuveera Reddy, finance minister A Ramnarayana Reddy, chief secretary Pankaj Dwivedi and principal secretaries.As regards the partnership summit, Geeta Reddy said that the steering committee, which met Saturday under the chairmanship of the chief minister, was happy over the arrangements being made for the event to be held from January 11 to 13 in Hyderabad. Ministerial delegations from 12 countries and business delegations from 26 countries have confirmed their participation in the summit till now. So far 140 investment proposals have been received with an investment of Rs 3,14,466 crore which is expected to create an employment potential of 2.49 lakh.