METI offers financial assistance for AP's metro rail Hyderabad, July 7 (INN): Andhra Pradesh Chief Minister N Chandrababu Naidu and his team held a meeting with Japan's Minister of Economy, Trade and Industry Yoichi Miyazawa.
Miyazawa came forward with equity participation in the capital development and management. He informed the Chief Minister that several Japanese companies are ready to be partners in Andhra Pradesh's capital construction.
The METI Minister added that the trade and industry body is also keen to invest in Andhra Pradesh's metro rail project if there is a request out forth from the Government of India. Replying to this, the Chief Minister said he would request the Government of India to pursue it.
On Srikakulam's Power project, Miyazawa informed the Chief Minister that they will seek New Energy and Industrial Technology Development Organization's (NEDO) participation, which will perform a feasibility report and assist Sumitomo Corporation.
The Chief Minister expressed hope over maintaining a long-term relation with the government and people of Japan. Stating that Andhra Pradesh is a gateway to South-East Asia, he expressed his goal to create world's best ecosystem for the state by 2050.
He also added that Andhra Pradesh is keen to be a front runner as part of Japan's $35 billion-investment promise in India under Comprehensive Economic Partnership Agreement (CEPA).
Meanwhile, the Chief Minister emphasized on creating a task force that will take the relationship forward. The task force must meet once in every six months, he said, so that the relationship is institutionalized. He also invited Miyazawa to attend the foundation laying-ceremony of the state's capital.
Miyazawa said that they will pursue the idea of setting up Andhra Pradesh desk in METI.
News Posted: 7 July, 2015
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