Chandrababu Naidu bats for Manufacturing Plants of Mitsubishi’s Rail and Electric Divisions in AP

Chandrababu Naidu bats for Manufacturing Plants of Mitsubishi’s Rail and Electric Divisions in AP

During his three-day visit to Japan, Andhra Pradesh Chief Minister Chandrababu Naidu will make a strong pitch for investments in Andhra Pradesh.  He will spend a day at the 9th World Congress on High-Speed Rail-2015 at Tokyo to understand about the evolving High Speed Rail Technologies and its associated industry, and will discuss with the representatives of High Speed Rail and Bullet Train manufacturing Companies for investment in Vizag, Tada and Krishnapatnam in Andhra Pradesh

Tokyo: Andhra Pradesh Chief Minister N Chandrababu Naidu, who had christened the new capital city of the State after ancient Buddhist town Amaravati with an intention to woo investors from Buddhist countries, has made an all-out attempt on Monday to persuade Japanese business giants to invest in the reorganised State.

Naidu held talks with some of the leading Japanese corporations including Mitsubishi and Fuji Electric and Japanese International Cooperation Agency for potential cooperation.

Mitsubishi expressed interest to set up Japan Information and Study Centre at Andhra University. This Centre will promote Japanese language courses and introduce locals to the Japanese culture. The Mitsubishi team evinced interest in taking part in the Chennai-Bangalore industrial corridor and Krishnapatnam industrial node.

It was reliably learnt that Mitsubishi agreed to set up a cluster near Krishnapatnam, bringing in all their subsidiaries to one place and importantly setting up of the Mitsubishi’s newly launched Traction Inverter All SiC-Power Module manufacturing plant at Krishnapatnam to cater for Asia-Pacific region from the east coast of Andhra Pradesh, as part of Make in India policy.

The Chief Minister is also expected to meet Japanese Prime Minister Shinzo Abe to invite him to take part in the foundation stone laying ceremony of new capital city, scheduled to take place on October 22.

According to sources, Naidu already took the clearance from Prime Minister Narendra Modi to extend invitation to the Japanese Premier for the grand function, which will be graced by Modi himself.

On Monday, Naidu will be meeting representatives of Fuji Electric Co., Ltd, Mitsubishi Motors Corporation, Mayekawa, Sumitomo Corporation, Mizuho Bank, Ltd, which is the integrated retail and corporate banking unit of Mizuho Financial Group.

On Tuesday, he is expected to hold confabulations with the top brass of SoftBank Group Corporation, which is a Japanese multinational telecommunications and Internet corporation, and Mizuho Financial Group, which is one of the prominent financial institutions in the world. Followed by this, Naidu is expected to visit world’s most important meeting for high-speed rail ‘UIC High-Speed Rail 2015′ being held at Tokyo from 7th to 10th July, 2015 and expected to meet more than 1,000 attendees from across the globe to exchange views on the development and achievements of high-speed rail worldwide.  It is learnt that the World Congress on High Speed Rail 2015 will feature international rail experts on transportation policy and technology. It will bring the public and private sectors together to provide insight and identify best practices for implementing high-speed rail projects at every stage – from planning, financing, and construction, to operations and management. Also, the Congress will feature an exhibit showcasing high-speed rail products and services.

During the tour, Naidu will clinch several key deals with the Japanese companies in order to set up their branches in AP. “Mizuho Financial Group is likely to enter into an agreement with the AP government to provide its services to the State to transform it into an industrial hub,” an official said.  Tokyo-based NEC Corporation, a multinational provider of information technology services and products, is expected to make an agreement with the AP Technology Services Limited (APTS) to provide IT solutions to the State government’s efforts to develop smart cities in the State. Naidu is also expected to call on Japanese Finance Minister in order to seek loans from the Japanese financial institutions for construction of the new capital city. In fact, seeking to promote Japanese investments in AP, Chief Minister Naidu during his earlier visit to Japan promised the investors in that country that his government would set up dedicated industrial townships and clusters for Japanese citizens comprising in AP. He also told them that Japanese schools would also be set up in the State.

“Make AP as a destiny for Japanese investments, build another Tokyo in new capital region of AP there you have so many opportunities. I want to do business most efficiently and for that I am assuring you ease of doing business through speedier clearances, infrastructure and good governance,” Naidu told a Japanese delegation during its recent tour to Hyderabad.

Besides a battery of top officials from the State government, Finance Minister Yanamala Ramakrishnudu and Municipal Administration Minister P Narayana are accompanying Naidu during his visit.