60 MoUs to be signed at CII summit

By Our Special Correspondent

HYDERABAD, JAN. 2.

At least 60 memoranda of understanding (MoUs) for projects involving a total investment of Rs. 28,489 crores will be signed during the three-day Partnership Summit being jointly organised by the Confederation of Indian Industry (CII) and the Government and Andhra Pradesh here from January 9 to 11.

While some more confirmations of new MoUs and letters of allotment are awaited, the existing tie-ups cover a variety of areas such as the LNG Terminal at Kakinada costing Rs. 19,000 crores, the first phase of the international airport at Hyderabad (Rs. 1,300 crores), a Rs. 300 crore benefaction and pelletisation plant of Kudremukh Iron Ore Company in Prakasam district, the Tada-Nellore Highway, an apparel park in Hyderabad besides investments in information technology and computer hardware.

Addressing a press conference here on Tuesday, the A. P. Major Industries, Mr. K. Vidyadhara Rao, said the MoUs and letters of allotment covered only those projects which would be grounded within the next six months and had received all clearances and not the investments already included in the Government of India's registry.

A highlight of the summit will be the inauguration of the financial district near the HI-TEC City at Madhapur by the Union Finance Minister, Mr. Yashwant Sinha, on January 11. About 100 acres of land has been set apart for the financial district which will be developed as a joint venture by the A. P. Industrial Infrastructure Corporation (APIIC). The developed plots will be offered to multinational banks, financial institutions and an insurance training academy co-sponsored by the Global Trust Bank and the US-based company, Limra.

The Minister expressed confidence that the Centre would choose Hyderabad over Chennai for setting up the headquarters of the Insurance Regulatory & Development Authority. The State Government would press Hyderabad's case in the matter, he added.

Twentyfive countries including Luxemborough, Belgium, Switzerland, Germany, United Kingdom, France, Italy, Poland, Canada, USA, Colombia, Australia, Hong Kong, Singapore, Thailand, Indonesia, Republic of South Korea, Israel, UAE, Egypt, Oman, Pakistan, Morocco, Tunisia and South Africa had confirmed their participation in the Partnership Summit. Eight of the participating countries were sending business delegations.

He said the Vice-President, Mr. Krishan Kant, would inaugurate the Partnership Summit, seventh in the series, on January 9 R Hotel Taj Krishna. This would be followed by two business sessions and dinner at Falaknuma Palace.

On the second day, there would be seven sessions and a dinner at Shilparamam, the State Government's crafts village. A feature of the second day's sessions will be four different lunches hosted by the Governments of UK, Thailand, Belgium and Andhra Pradesh and a presentation by the Chief Minister, Mr. N. Chandrababu Naidu, about the investment opportunities in the State.

The highlight of the concluding day will be an address to the delegates by Mr. Yashwant Sinha and four separate lunches hosted by the CII, a group of Asian countries, Mexico and South Africa There will be 750 participants of whom 150 will be foreign delegates and the remaining will include senior industrialists and CEOs (500) besides academicians and VIPs (100).

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Section  : Southern States
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