Swiss firm to invest Rs 5,000 crore in horticulture, dairy sector in Andhra Pradesh

Pioneering Ventures to announce a detailed plan to invest in State

Published: 23rd January 2018 02:11 AM  |   Last Updated: 23rd January 2018 07:40 AM   |  A+A-

Chief Minister N Chandrababu Naidu with Pioneering Ventures chairman Ron Paul in Zurich on Monday | Express

By Express News Service

VIJAYAWADA: Swiss-based Pioneering Ventures, which has already invested Rs 1,000 crore and started its activities in Nanded of Maharashtra and Kuppam in Andhra Pradesh, on Monday expressed its willingness to invest more in the State. Responding to the appeal made by Chief Minister N Chandrababu Naidu, who is on his way to Davos for participating in the World Economic Forum, Pioneering Ventures chairman and founding partner Ron Paul said that they were looking to expand their operations in AP.

In the meeting held in Zurich, Ron Paul said Pioneering Ventures was planning to invest Rs 5,000 crore in horticulture and dairy sector and they are preparing an action plan. He promised to announce a detailed plan to invest in AP after observing the agriculture development in the State. The CM assured every possible support to the company for their expansion plan and mentioned that the government is planning a small airport in Kuppam, which will largely contribute to their cargo movement and travel. 

To speed up the process of expansion in Andhra Pradesh, the Chief Minister asked the Industries Secretary Solomon Arokia Raj to be in regular touch with the company and fast-track the initiative for quicker results.

Sister-state pact with Zurich 
In order to strengthen the friendly ties and promote mutual understanding, the AP government signed a letter of intent with Canton of Zurich in the presence of the Chief Minister. The letter of intent aims at achieving mutual prosperity and development.The agreement will strengthen economic and scientific relations between the two governments in the areas such as information and communication technology, environmental technology, life sciences and urban and regional Development. This will bring AP and Canton of Zurich closer and ensure that a framework is created which supports the exchange between both the parties.

The agreement will also promote collaborations between the governments through the exchange of experiences and information, devising of joint cooperation plans, industry-specific programmes and projects, establishment of joint expert groups and work, implementation skill development of an educational nature and regular expert level consultations. Finance Minister Yanamala Ramakrishnudu and Government Counselor Minister Carmen Walker Spah were also present.

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