Andhra Pradesh major industries minister Kanna Laxminarayana said the state government would soon announce the industrial policy for 2010-2015.

Talking to newspersons, here he said the department would submit the recommendations to Chief Minister K Rosaiah and the new policy would be ‘better’ than the earlier one of 2005-2010.

The minister denied reports in a section of the press that some incentives for industries which were announced in 2005-2010 would be discontinued in the new policy.

He said more incentives would be given for industries with a view to attract investments.

He said the state had attracted investments worth Rs 3.49 lakh crore for 2007-2010. Out of this, Rs 1.10 lakh crore projects are in various stages and a project worth Rs 37000 crore would be going on stream soon.

While admitting that there were some obstructions in investments during the disturbances over Telangana and other issues, he said industry captains were eager to investment in the state in view of the incentives provided by the state government for industrial growth.

He denied reports of slowdown in industrial growth due to lack of new investments, stating that Andhra Pradesh was in the forefront in attracting the industrial bigwigs in the state.

In the recent report of World Bank, Andhra Pradesh stood second in attracting investments and a private firm in their survey stated that Andhra Pradesh was number one in attracting the investments.

Stating that the investments in Andhra Pradesh were increasing by 20% every year for the last four years, Mr Laxminarayana said Prime Minister Manmohan Singh would soon lay the foundation stone for an electrical equipment company to be set up by BHEL and NTPC at Mannavaram in Chittoor District.

He said two major industries will come up with an investment of Rs 9000 crore in Kadapa and some other major projects in various districts of the state.

Out of 110 Special Economic Zones (SEZ) in the state, the highest number in the country, at present 73 SEZs were working and there was no problem for land acquisition as the government was acquiring lands at 15% from the private parties. The remaining land was provided by the state from waste lands, assigned and government land, he added.

UNI