China’s Guizhou province has emerged as one of the key investors in Andhra Pradesh. Guizhou Province and Andhra Pradesh have recently signed a sister-state agreement and are instrumental in driving the next phase of Andhra-China ties, Andhra Pradesh Capital Region Development Authority (APCRDA) officials said on Monday.
The Power China Guizhou Engineering Corporation earlier signed an MOU with the Andhra Pradesh Economic Development Board to invest in infrastructure, renewable energy, power transmission and distribution.
The APEDB is a single point of contact for investments and partnerships in Andhra Pradesh. The Guizhou Kailin Group is already in advanced stages with Coromandel International Limited for establishing a $1-billion fertiliser plant in the Kakinada Special Economic Zone.
Watch what else is making news:
The Guizhou Kailin Group has shown interested in establishing a facility in the vicinity of the ports in Andhra Pradesh. The Poly Permanent Union
Holding has expressed interest in exploration of bauxite in Andhra Pradesh.
Monday, Guizhou Province’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC) along with a high-level delegation of companies met chief minister N Chandrababu Naidu. The SASAC is a special commission of the People’s Republic of China, directly under the State Council. It oversees 103 centrally-owned companies and acts as an investor on behalf of the government.
The Guizhou Provincial SASAC delegation led by Chen Jian, vice director, SASAC was coordinated by Andhra Pradesh Economic Development Board (APEDB) and the Guizhou International Investment Corporation (GIIC). The SASAC delegation consisted of companies such as Power China Guizhou Engineering Corporation, Guizhou Construction Engineering Group, Guizhou Architectural Design & Research Institute, Guizhou Kailin Group, Guizhou Panjiang Investment Holdings Group, Southwest Energy & Minerals, Poly Permanent Union Holding and The Seventh Metallurgical Construction Corp.
The delegation also met officials from the Capital Region Development Authority (CRDA) and identified projects that they could execute immediately. A few Chinese infrastructure companies evinced interest to shift captive steel plants to coastal areas of Andhra Pradesh.
Chen Jian, vice director, SASAC said that Andhra Pradesh has consistently pushed for stronger ties with Guizhou Province and the recent sister-state agreement has established stronger economic and cultural ties between Andhra and Guizhou. He said that as the partnership progresses, Guizhou province and Andhra Pradesh will have mutual synergies. “This partnership also helps tap the potential of Sino-Indian economic relationship and hopes that the state would attract Silk Road projects and Chinese investments,” he said.
Chief Minister N Chandrababu Naidu said that Andhra Pradesh is striving to achieve infrastructure-driven growth and Guizhou’s rich experience in infrastructure will be a boon for Andhra Pradesh as the state is investing in infrastructure for industrial growth.