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Telangana rolls out red carpet for Chinese investors
S RAMA KRISHNA  Hyderabad | 12th Sep 2015

Telangana Chief Minister K. Chandrasekhar Rao (KCR), who is currently touring China, has promised to clear all investment projects within 15 days of applying. A chasing cell comprising senior officials of his government would monitor all the cleared proposals and ensure their time-bound grounding, he told a meeting of investors in Shanghai in China on Thursday.

Addressing the meet organised by the Telangana government and the CII, the Chief Minister invited Chinese investors to come to Telangana at a time when the world's second largest economy was in a slowdown mode. "I know this slowdown won't last long and you will pick up fast, but meanwhile, please come to our state and invest big," he told the gathering of 65 major Chinese firms and financial institutions.

Telangana Power Minister G. Jagadeswar Reddy, who is presently accompanying the Chief Minister, told The Sunday Guardian over phone that Chinese companies were ready to come to Telangana and invest in the electrical, electronic and hardware sectors. "They are convinced about Telangana's potential for growth and the simplified industrial policy of our government," he said.

KCR, who participated in the World Economic Forum’s seminar on the challenges faced by emerging markets and new champions at Dalian on 9 September, would be visiting different Chinese cities before returning on 15 September.

Immediately after the conference, the Shanghai Electric Corporation expressed interest to sign an MoU with the Telangana government to set up a high power pipes manufacturing unit in the state. The details are being worked out, the minister said. Celkon and Mekino have signed separate MoUs to set up LED TV sets factory and a mobile phones making unit near Hyderabad.

KCR, who participated in the World Economic Forum's seminar on the challenges faced by emerging markets and new champions at Dalian on 9 September, would be visiting different Chinese cities before returning on 15 September. Leo group of China has already expressed interest to invest Rs 1,000 crore in Telangana to manufacture heavy-duty pipes.

KCR would meet Chinese companies and financial institutions in Beijing and Hong Kong and seek their investments in Telangana, according to sources in the CM's office in Hyderabad. KCR held a round of discussions with the Indian ambassador in China, Ashok Kantha, on wooing Chinese investments in Telangana which is looking for at least Rs 50,000 crore to fund its infrastructure projects.

KCR called on K.V. Kamath, the New Development Bank chairman, and sought liberal assistance for Telangana's projects to fund electricity generation from solid waste and other non-conventional energy projects. The CMO sources told The Sunday Guardian that Kamath has assured KCR to extend maximum help from the newly set up multinational bank.

 
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