HYDERABAD: Chief Minister K Chandrasekhar Rao succeeded in getting a $20 million investment to Hyderabad during his visit to China.
A Memorandum of Understanding (MoU) was signed in the presence of Rao, between Celkon and Makeno for investing $20 million in Hyderabad. Celkon and Makeno will set up a LED TV unit in Hyderabad.
Two more Chinese companies that manufacture cellphone components and headphones, have agreed to invest in Hyderabad. Shanghai Electric Corporation vice-president Shao met Rao and expressed interest in setting up manufacturing and supply units of high powered pumps and electrical equipment in Hyderabad. Rao requested them to visit Telangana.
Rao also addressed entrepreneurs in Shanghai city on Thursday which evoked a good response. Around 65 Chinese entrepreneurs and companies participated in the seminar and listened to Rao, who explained the industrial policy of the state and wanted them to invest in TS.
The seminar was organised by Consulate General of India, Shanghai, Telangana State government and Confederation of Indian Industry (CII).
Rao spoke on ‘Investment opportunities in Telangana’. Rao explained the details of single window industrial policy, the availability of land bank, hassle-free permissions and approvals, zero-corruption etc.
Apart from focussing on investments, Rao also concentrated on getting loans for flagship programmes of the state.
The state government is tapping resources of New Development Bank-BRICS (NDB BRICS), headquartered in Shanghai. Rao sought loans for the proposed urban development projects, including turning waste to energy, and irrigation projects.
Rao called on NDB-BRICS president KV Kamath and also vice-president of the bank Xian Zhu and held discussions for over 40 minutes. When Rao sought loans from the bank for urban infrastructure and irrigation sectors, Kamath reportedly responded positively.