KCR assures Singaporean investors - TeluguPeople.com News

SINGAPORE: Telangana chief minister K Chandrasekhar Rao on Friday assured investors in Singapore to develop the newly-formed state by accelerating project approvals in a corruption-free environment.

The chief minister was speaking at a meeting with Singaporean investors. 'Telangana will be a 'Zero-graft state' with improved safety and security,' he asserted. During the meeting, the chief minister listed out a wide range of investment opportunities for the private sector in the field of IT, pharmaceuticals, food processing and automobiles among others.

Assuring his government's immediate response, the chief minister said 'I and my team of top bureaucrats will directly and immediately handle all investment proposals.'

KCR also assured of providing sufficient power supply in the state with the production of electricity increasing by 8,000 mw in the next five to six years.

'The state is currently facing a 4,000-mw shortage in the power sector but plans are already in place to improve the supply by setting up additional plants under the Telangana Genco and the NTPC,' principal secretary of the chief minister S Narsing Rao said and added that the addition 4,000 mw was planned to meet the projected increase in demand.

In the evening, the chief minister met with members of the Singapore Telangana Cultural Association and had dinner with the Telangana Expatriate Community. He also met a delegation from the Confederation of Indian Industry (CII). Google HR director (Asia Pacific) Aditya K Roy called on KCR.

The chief minister, as part of his tour, is scheduled to meet with Singapore foreign and law minister K Shanmugam and second minister of trade and industry S Iswaran.

The chief minister will also meet Singapore Prime Minister Lee Hsien Loong at the opening of the IIMPACT-2015 on Friday. KCR is expected to present the government investment policies during the meeting and discuss potential investments through public private partnerships. The conference will be attended by 1,000 delegates and alumni of the Indian Institute of Management (IIM).

The chief minister arrived in Singapore on Thursday and met with Singapore-based investors before studying studying some of the country's infrastructure projects including the newly-completed Sports Hub.

KCR will leave for Kuala Lumpur on August 23 for a day-long study tour of the Malaysian infrastructure in the capital and the city of Putra Jaya.

Senior vice-president of the Federation of Andhra Pradesh Chambers of Commerce and Industry Anil Reddy Vennam, who is part of the delegation, said: 'We are very glad to note that the chief minister has taken a lead in discussing investments,' and added that investors from the island nation had responded positively to KCR's requests.