AP confident of getting Rs. 5,000 Cr US Investments
Hyderabad, July 12 (INN): Minister for NRIs Affairs Dr. Palle Raghunatha Reddy has claimed that he got assurances from 15 US Companies for about Rs. 5,000 crores of Investments creating an employment to more than 10,000 people in Andhra Pradesh State.
Dr Palle, who visited the United States of America from 1st to 8th July, brief Chief Minister N Chandrababu Naidu about the achievements of his visit. The famous American Hilliard Energy Company's Chairman's Son Sterling Hilliard has handed over his company's Letter of Intent for investment of Rs.3600 crores (600 million US Dollars) in Ananthapuramu District in Solar and wind power sector for generation of 650 MW.
The Value Though IT Services (Reach IT) Company CEO Mahesh Anil Nandyala has announced to start his company's branch at Ananthapuramu on 24th July with 60 employees. The reputed Company CLOUD RACK Vice President Devi Prasad Mulluru has handed over Letter of Intent for establishment of IT company in Tirupathi with an investment of $ 3 million to 7 million.
STARTECH Group CEO Ravi Sakamuri handed over the Letter of Intent to establish his University of Texas Online Courses for Dual Certification with JNTU. GLAMANTECH Company President Hariprasad Naidu Medarametla handed over the Letter of Intent for establishment of his IT company in Tirupathi with investment of around $ 5 million to 10 million.
ARCHITEKT DOMAIN.COM Company Vice President Devi Prasad Mulluru handed over the Letter of Intent for establishment of his IT company in Tirupathi with investment of around $ 4 million to 5 million. Ravi Cheerala, leading NRI Telugu Industrialist in America has promised to invest Rs.600 crores in Steel, Aluminum, Power sectors in AP.
Similarly, other companies have promised to start their units in AP.
News Posted: 12 July, 2015
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