ANDHRA PRADESH

Himachal woos State investors

INVESTOR FRIENDLY MOVE: The Himachal Pradesh Chief Minister, Virbhadra Singh (right), with his colleagues at an interactive session with CII members on Monday.

INVESTOR FRIENDLY MOVE: The Himachal Pradesh Chief Minister, Virbhadra Singh (right), with his colleagues at an interactive session with CII members on Monday.  

The target is Rs. 25,000 crores, says Virbhadra Singh

Special Correspondent

HYDERABAD: Himachal Pradesh, which has attracted Rs. 10,700 crores investments over the last few years, is targeting another Rs. 25,000 crores by 2007, according to the Chief Minister, Virbhadra Singh. He was addressing a press conference after an interaction meeting with industrialists organised by the State unit of the Confederation of Indian Industry (CII) here on Monday.

Inviting businessmen from Andhra Pradesh to invest in the hill State, he said their policy was to invite `non-polluting industries,' and attain ecologically sustainable development.

In line with this strategy, he invited investments in information technology, biotechnology, electronics, and hydro-power generation.

"Tourism will always remain the number one industry. But industrialisation is required because we have to create employment," he said.

Certain areas had been earmarked for industries, and "we are not encouraging polluting industries." For example, cement had been put in the `negative list' though it had immense potential, the Chief Minister said.

Hub for hydel power

The State had potential for 21,000 MW hydro-power generation, equivalent to 20 per cent of the nation's potential. So far 6,000 MW had been exploited and 4,000 MW was under way, leaving another 10,000 MW potential.

So far investors from Andhra Pradesh had taken up Rs. 1,000 crores of hydro-power projects. Investment potential was Rs. 30,000 crores in hydro-power.

At the CII meet, he said the State was working on a plan to develop industrial corridors along the periphery. He sought private sector participation in tourism, infrastructure, industrial infrastructure including housing, power generation, software technology parks and the like.

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