Japan has agreed for equity participation in the entity that would take up the construction of the State capital at Amaravati and details are being worked out, Chief Minister Chandrababu Naidu has said.
In a media interaction in Tokyo on Tuesday, Mr. Naidu said the his government had submitted proposals to Singapore and Japanese governments seeking development fund, technical assistance, technology collaboration and skill development. He said the Singapore Government agencies which submitted the Master Plan for capital region were expected to give the detailed seed capital plan in a few days.
Mr. Naidu said his government was concentrating on port-led development, while referring to Japanese expertise in this regard. During his meeting with Yoichi Miyazawa of Ministry of Economy, Trade and Industry, the latter evinced interest in equity participation in development of the capital. He told Mr. Naidu that several Japanese companies were ready to be partners in the construction of capital, adding that they were keen to invest in AP’s metro rail project, if a request was put forth from the Government of India.
On Srikakulam’s Power project, Mr. Miyazawa said that they would seek New Energy and Industrial Technology Development Organization's (NEDO) to prepare a feasibility report and assist Sumitomo Corporation. The CM said AP was keen to be a front runner in receiving investments as part of Japan’s $35 billion proposal in India under Comprehensive Economic Partnership Agreement (CEPA). He emphasised on creating a task force that would take the bilateral relation forward.
Mr. Miyazawa said they would pursue the idea of setting up Andhra Pradesh desk in Ministry of Ecomony, Trade and Industry too.
In another meeting, Takayuki Morita, Executive Vice-President of National Electronics Corporation (NEC), said NEC was looking to partner with AP in cyber security, road transport systems and broadband connectivity.
