Chinese railway firm keen on investing in AP Metro project

Chinese railway firm keen on investing in AP Metro project: Interest of Chinese companies to invest in Andhra Pradesh is growing. After three leading Chinese manufacturing units committed to participating in the Kakinada SEZ a few months ago, now, it’s the turn of a major Railway group to evince interest. A delegation from China Railway 23{+r}{+d} Bureau Group Co. (International) Ltd. (CCRC) met the Chief Minister N Chandrababu Naidu on Monday in Vijayawada and discussed possible areas of collaboration. Naidu asked the company to participate in the tender-bidding process for the metro rail projects in Vijayawada and Visakhapatnam.

Tie-up sectors
Outlining the areas in which AP and the CCRC could work together, Dong Fengie, General Manager, Overseas, of the Chinese firm said, “we are keen to work in sectors like railways, metro rail projects and multi-purpose dam projects”.

Naidu explained the opportunities for investors in infrastructure, airports, ports and the housing sector in Andhra Pradesh, which is building a new capital city.

He asked the group to come up with a proposal for identifying areas of investments, Government spokesperson said. In May, GMR Infrastructure Limited (GMR) entered into an agreement with Guizhou International Investment Corporation (GIIC), a consortium of three leading Chinese manufacturing companies to set up an industrial park in its SEZ, Kakinada with an immediate investment of $500 million.

Kakinada SEZ
The Chinese companies from power equipment, electronics, wind & solar energy, smart technologies etc. were intending to set up their manufacturing units.

The SEZ in Kakinada is a port-based multi product Special Economic Zone, spread over approximately 10,500 acres and is a subsidiary of GMR. The State government is pro-active in extending a slew of incentives for investing companies in addition to benefits under the Make in India policy of the Centre.

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