AP CM invites JGC to set up petrochemical corridor
Hyderabad, July 8 (INN): On the third day of his visit, Chief Minister N Chandrababu Naidu met executives of JGC Corporation.
The JGC Corporation operates in petroleum, power, water, new energy and industrial parks sectors In India, the company runs its operations from an industrial park in Chennai.
Inviting the company to explore setting up of a petrochemical corridor in Andhra Pradesh, the Chief Minister briefed them about the presence of huge gas and energy reserves in KG basin of the state. He also mentioned about the advantage of a long coastline, abundant water resources and land bank.
In response to CM's conversation, the JGC Corporation head said the company is keen on setting up a refinery and cracker unit in Andhra Pradesh.
The Chief Minister added that they are keen to create a world-class infrastructure with port-led development apart from construction of best-in-class airports.
JGC Corporation chairman and representative Director, Masayuki Soto, said the company wants to partner with Andhra Pradesh in food processing sector. Stating that Andhra Pradesh is a leading exporter of marine products, the Chief Minister invited Soto to explore the opportunities in sea food processing.
Nobutaka Tanaka, General Manager and Shuhei Maruyama, Advisor were present at the meeting.
Meeting with Sumitomo Mitsui Banking Corporation (SMBC)
In a meeting with Sumitomo Mitsui Banking Corporation (SMBC), Senior Advisor Fumio Hoshi informed the Chief Minister that Japan Research Institute (JRI) is ready to conduct feasibility study on eco-city and transportation systems in Andhra Pradesh.
Japan Research Institute is a subsidiary of SMBC.
The Chief Minister invited the JRI to visit Andhra Pradesh and collaborate with an organization or university to study the cost difference between elevated metro and monorail and submit a report.
He also suggested the JRI to offer consultancy services to Andhra Pradesh and later, expand it to other states on the proposed model.
News Posted: 8 July, 2015
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