Air Costa chairman Ramesh Lingamaneni has said private investors should be given equal importance to develop the residuary State of Andhra Pradesh.

“Private investors are major key players. They play essential supporting role, facilitating a sustainable growth,” Mr. Ramesh said in a press release. Congratulating TDP president N. Chandrababu Naidu for taking oath as Chief Minister of Andhra Pradesh, he said the newly created States - Andhra Pradesh and Telangana - have many challenges.

“It’s not only the governments that play a vital role but also the institutions and individuals,” he said adding that the vision is to develop tier-II cities and put them in the world map, besides introducing international standard infrastructure. Public Private Partnership (PPP) should be encouraged with investor friendly regulations.

Giving details about the upcoming projects, he said talks were on with ‘Embraer’, an aircraft manufacturer to set up a unit for manufacturing of spare parts. Another project, ‘Mid Valley’ categorised for commercial, residential, office space, retail and entertainment on Vijayawada and Guntur Highway is underway. Regarding hotel industry, Mr. Ramesh said that discussions were on with five hoteliers to set up star hotels at Vijayawada. Proposals were on to establish a logistics hub and a convention centre too, he added.

More In: Vijayawada