China’s steel major Ansteel to scout AP for Rs 3k crore plant

HYDERABAD: Chief minister Chandrababu is in China hawking Andhra Pradesh's Buddhist history in a bid to raise investment in his state. On the first day of his tour, Naidu's office here reported that the chief minister succeeded in convincing China's steel major, Ansteel Engineering Technology Corporation Limited, to invest in the State.

Ansteel is a government-owned firm and is the second largest steel maker in China and North Korea.

"While attending the World Economic Forum's 10th annual meeting of New Champions being held at Tianjin city, Chief Minister Naidu convinced the executives of Ansteel to set up a steel plant with Rs 3,000 crore in the State," CMO officials stated.

"Feng Zhanti, Secretary and President, Zhu Wen Gang, Vice Chief Engineer, and Lian Guang, Marketing Manager of the firm, told Naidu that Ansteel is interested in setting up a steel plant in AP. The Chief Minister invited them to visit the State to identify a suitable place for investment," the officials said.

Naidu proposed that the Brahmani Steels site in Kadapa was a possible location for the Chinese steel company since it is proximate to a port. The chief minister said land acquisition proposals can be initiated if the group came up with an action plan.

Naidu began the tour by meeting the chairman of Hanzhou Dingsheng Industry Group, Zhou Xiangai. The Dingsheng group expressed its interest in investing in the mining sector in the State.

Later in the day, the chief minister made his investment pitch to several international business leaders. These included Mohammed Jaffer, CEO of the Kuwaiti Danish Dairy Company, Dave Glazer of Palantir Technologies Inc, Maurice Owens, the head of the Libra Group's Washington DC office, and Valerie Feldmann of Ogin Inc.

Senior executives of the power industry giant, Dongfang Electric called on Naidu. "Since Dongfang is a government-owned company, a G2G partnership can be formed to establish a joint venture and we can float a pilot project and slowly expand to other states," Naidu's office communicated.

The chief minister also met Sri lanka's minister for development strategies and international trade, Malik Samarawickrama. "Our Prime Minister is keen to work with you," Samarawickrama told Naidu. "Sri Lanka and AP can work together to tap tourism potential."

In reply, the chief minister said his government is adopting a port-led development strategy with a view to emerging as the gateway to Southeast Asia. Samarawickrama extend an invitation to the chief minister to visit Sri Lanka.

Source: newindianexpress

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