Japanese Giants To Invest In New AP Capital: Naidu

Andhra Pradesh Chief Minister Nara Chandrababu Naidu on Monday claimed that several big companies of Japan were very keen to invest and participate in the construction of the State's new capital.

Addressing a press conference, Naidu described his 5-day visit to Japan as highly rewarding, with the AP delegation meeting the heads of over 500 companies.

"The response of the Government of Japan and its agencies has been very promising," he said.

The Chief Minister had led a delegation to Japan between 24 November and 28 November. The delegation had both government and industry representatives. The delegation spent two days in Osaka and Kyoto which are highly industrialized, one day in Fukuoka which is renowned for its innovations in environmental technologies and urban planning, and two days in Tokyo which is the administrative, financial and intellectual capital of Japan.

The Chief Minister informed that Japan's Softbank had announced its intention of setting up a 10,000 MW solar power project in the next three years with an investment of USD 10 billion dollars.

"Softbank may assist AP in revolutionizing IT in the State," he said, and added that the Softbank Chairman would visit AP in the next 45 days.

Referring to his meeting with the Prime Minister of Japan, Shinzo Abe, Naidu said that Abe had been requested to earmark a significant share for the development of Andhra Pradesh from the USD 35 billion in investments which Japan has promised to make in India.

Chandrababu Naidu said that the Minister of Economy, Trade and Industry (METI) had signed an MoU with AP assuring promotion of direct investment by Japanese companies in Andhra Pradesh in various fields such as urban development, infrastructure, manufacturing, agriculture, food processing and IT. METI would also support the development of industrial parks in AP, Naidu added. Both ministers had committed to designating one officer each for the promotion of investment into AP and the opening of a desk in the Japanese embassy in India.

New Energy and Industrial Technology Development Organization (NEDO) had signed a MoU with the GoAP which covered sharing information and exchanging opinions about smart community activities and the success stories of Japan, Naidu said. Both parties would identify areas of collaboration in Japanese advanced technology including energy-related technology, renewable energy, energy efficiency and energy storage.

The Sumitomo Corporation has signed four MoUs with the GoAP to collaborate in the areas of power generation by developing a 4 X 1,000 MW Coal Fired Power Station in Srikakulam. Similarly, the corporation will assist the GoAP through the establishment of a Model Agriculture Machinery Center and the promotion of High Japanese Culture Technology through support from the Japanese government. It will also assist the GoAP in seeking foreign investments into the food processing industries through its global network in order to enhance exports and the value of the products.

The Sumitomo Corporation will also assist the State Government in developing the new capital as a world class smart city. In order for this, Sumitomo would assist in securing the necessary funds for such development from the Japanese government via JICA, NEDO and JBIC as applicable, the Chief Minister said.

Naidu said that the Andhra Pradesh Government would in general increase its economic and cultural relationships with Japan in a massive scale. He said that it had been decided to teach the Japanese language in three universities of Andhra Pradesh. (INN)