Investors pitch for Vizag as new capital

They are confident that the division would throw up new opportunities to promote Brand Vizag

Investors and top corporate executives feel relieved with the end of ambiguity over the formation of Telangana.

While vouching to make Vizag the new capital of the residual State of Andhra Pradesh, they exude confidence that the division would throw up new opportunities to promote Brand Vizag, notwithstanding some teething problems.

Natural choice

Stating that the city was the natural choice for the new capital with world-class infrastructure, they said when The Hindu contacted them individually for their opinion that after the elections, the city would attract more investments. They said the policy-makers should learn a lesson from development of Hyderabad as an international city ignoring all other parts of undivided AP and called for initiatives to ensure balanced development.

As part of a package, they sought tax incentives, railway zone, an international airport, establishment of premier research institutes, IITs, IIMs and speeding up of work on mega projects like PCPIR and IT Investment Region (ITIR).

RINL Director (Commercial) T.K. Chand said Vizag had readymade infrastructure to become a capital. “We didn’t wish new State formation but it is becoming a reality. Brand Vizag is recognised as a jewel on the East Coast. It will now be stronger with Vizag Steel finding market in South East Asia, South Asia, Middle East and Africa,” he said.

Pitching for Vizag as capital, CII-Vizag zonal chairman G. Sambasiva Rao said “We have 970-km-long coastline. The Maritime Board maybe in place once division is completed. Lot of opportunities will be available to develop the city and State further.”

Balanced development

Mr. Rao, who is the managing director of Sravan Shipping, said there should not be any negative feeling and everyone should try hard for balanced development.

President of RHI Clasil Ltd. R.V.S. Raju said with the end of prolonged uncertainty over division, investors were pinning hopes on accelerating growth in and around Vizag. He said learning a lesson from Hyderabad and the sentiments of Seemandhra people, development should be balanced by ensuring location of Assembly, Secretariat, High Court, RBI and other institutes at various places.

On the new capital, he said geographically, it should be somewhere near Vijayawada. However, he made it very clear that personally, he would love development of Vizag, in whatever way it was possible.

Proactive steps

Vizag Profiles Group Director K.V. Bhaskar said there was no dearth of entrepreneurship and easy access to new capital and leadership would throw up new opportunities for development. He wanted proactive measures to ensure development in all parts of Seemandhra. While endorsing the demand to make Vizag the new capital, he said “all of us should not follow the Hyderabad model of development, where everything was concentrated for several decades.”

Strongly advocating Vizag to be made capital due to its strategic location and good infrastructure, Vizag Development Council O. Naresh Kumar said as part of a package, they wanted Free Trade Zone, ITIR and a slew of incentives to offset the loss which the city suffered due to Hyderabad-centric development.