HYDERABAD: The dreams of Chief Minister K Chandrasekhar Rao to develop Hyderabad as a major investment destination got a major boost on Friday as global consumer major Procter and Gamble expressed willingness to set up their South Asia planning centre in Hyderabad while the Bank of China offered to fund the 100-storeyed skyscraper project on the banks of Hussainsagar lake.
While the arrival of Procter and Gamble, a multinational consumer giant will boost the image of Telangana as an investment friendly state, the skyscraper project will ensure a place for Hyderabad on the global map.
Bank of China head (India) Hengchang and representatives of various Chinese companies called on Chandrasekhar Rao at his camp office on Friday and expressed their willingness to fund 85 per cent of the investment for the skyscraper project. The biggest tower in South India, planned by TRS government, will be a 60 to 100-storeyed building. The Bank of China offered to fund 85 per cent of the cost of the tower. However, the funding will be finalised in the next meeting.
The Telangana government has proposed to construct a skyscraper on the lines of Petronas Towers in Kuala Lumpur for which the Bank of China has offered funding. The tower will accommodate government offices using less space.
Recently, a Chinese delegation had conducted an aerial survey in Hyderabad to take up the developmental activities. After the aerial survey, the Chinese companies called on the Chief Minister with models and proposals of various works.
Accordingly, CCCC Highway Consultancy, a Chinese investor, came forward to construct a suspension bridge on the Musi near Durgam Cheuruvu.
The Chinese companies also presented the models for construction of tunnels for irrigation projects too. The delegation assured Rao that they would construct the tunnels required for Palamuru-Rangareddy Lift Irrigation Schemes in less time ensuring quality.
China-based Anju Infrastructure director Yogesh, India head Manoj Gandhi, CCCC manager Peng Yundong, business manager Chang chunyman, Beizing ZYTX business manager Wu Hao, representatives of Radik Consultants Zaheer Ahemd and Raj Kumar were among the delegates.
Meanwhile, Procter and Gamble (India) managing director AI Rajwani called on the chief minister along with his team, expressing their willingness to establish a planning centre in Telangana to cater to needs of their operations across South Asia. Rajwani sought the cooperation of the state government in this regard.
He also informed Rao that P&G would like to expand its existing facility at Penjarla village in Kottur mandal of Mahbubnagar district located in a sprawling 171 acre premises.
The existing unit has 786 employees and the company would increase the employee strength to 1,200 soon out of which 80 per cent would be locals. The unit caters to segments like fabric and home care, beauty care, oral care, baby care and feminine care.
In addition to this, Procter and Gamble would also recruit 50 highly skilled persons for the planning centre to begin with which would be scaled to 100 later.
Responding to Rajwani’s request, the chief minister said Telangana was the best state for investment. He urged the P&G team to partner with the state in progress.
P&G is an MNC with operations in 80 countries and its products are sold in 150 countries.
MP Jitender Reddy, principal secretary to CM S Narsing Rao, additional principal secretary to CM Shanti Kumari, secretary (Industries) Arvind Kumar and TSIIC MD Narasimha Reddy were present at the meeting.