Investors commit Rs.1.29 lakh-cr in AP

In the recently held investment summit, Amaravati, the new capital of Andhra Pradesh was flooded with investment proposals to the tune of Rs. 1.29-lakh-cr. In fact, during the second day of the summit, several construction and infrastructure companies signed agreements with the state agencies on this score. In all, 62 companies agreed to locate their projects within the Capital Region Development Authority (CRDA). National Highways Authority of India (NHAI) has planned to invest Rs. 23,540-cr to lay 426 kilometers long roadways connecting the new capital city. The agreements will greatly improve the transport facilities from and to the capital city. The entire road network will be strengthened with active support from the national road building agency NHAI, said Municipal Minister P Narayana. Apart from NHAI, Tata Power has proposed to set up a power station and also collaborate in the transmission and distribution network project with an estimated investment of Rs. 12,500cr. While Shapoorji Pallonji came up with Rs. 6,000-cr proposals, the SRM University also agreed to invest Rs. 2,200cr.