Japanese giants keen to invest in AP: Naidu

Hyderabad, Dec 1 (INN): Andhra Pradesh Chief Minister Nara Chandrababu Naidu on Monday claimed that several big companies of Japan are very keen to invest and participate in the construction of State's new capital.

Addressing a press conference here, Naidu described his five-day visit to Japan as highly rewarding wherein the AP Delegation met heads of over 500 companies. 'The response of the Government of Japan and its agencies has been very promising,' he said.

It may be mentioned that the Chief Minister led a delegation to Japan between 24 November and 28 November. The delegation had both government and industry representatives.

The delegation spent two days in Osaka and Kyoto which are highly industrialized, one day in Fukuoka which is renowned for its innovations in environmental technologies and urban planning and two days in Tokyo which is the administrative, financial and intellectual capital of Japan.

The Chief Minister informed that Japan's Softbank has announced their intention of setting up 10,000 MW solar power project in next three years with an investment of USD 10 bn dollars.

'Soft bank may assist AP in revolutionizing IT in the state,' he said while informed that the Softbank Chairman would visit AP in the next 45 days. Referring to his meeting with the Prime Minister of Japan, Shinzo Abe, Naidu said that Abe has been requested to earmark a significant share for the development of Andhra Pradesh from the USD 35 bn investments which Japan plan to make in India.

Chandrababu Naidu said that the Minister of Economy, Trade and Industry (METI) has signed a MoU with the AP assuring promotion of direct investment by Japanese companies to Andhra Pradesh in various fields such as urban development, infrastructure, manufacturing, agriculture, food processing and IT.

METI will also support development of industrial parks in AP. Both ministers have committed designating one officer each for promotion of investment into AP and opening a desk in Japan embassy in India.

New Energy and Industrial Technology Development Organization (NEDO) has signed a MoU with GoAP which covers sharing information and exchange opinions about smart community activities and success stories of Japan. Both parties will identify areas of collaboration in Japanese advanced technology including energy-related technology -renewable energy, energy efficiency, and energy storage.

The Sumitomo Corporation has signed four MoUs with the GoAP to collaborate in the areas of power generation by developing 4 X 1000MW Srikakulam Coal Fired Power Station.

Similarly, the corporation would assist GoAP by establishment of Model Agriculture Machinery Center and promotion of High Japanese Culture Technology by utilization of support from Japanese government. It will also assist GoAP in seeking foreign investments into the food processing industries through their global network in order to enhance export and the value of products.

The Sumitomo Corporation will also assist the State Government in developing the New Capital as a World Class Smart City. In order to materialize this, Sumitomo will assist in securing necessary funds for such development from Japanese government funding by JICA, NEDO and JBIC as applicable, the Chief Minister said.

Listing out other achievements during the visit, Chandrababu Naidu said that the Andhra Pradesh Government would increase its economic and cultural relationships with Japan at a massive scale. He said it has been decided to teach Japanese language in three universities of Andhra Pradesh.