Japan Bank keen to help Andhra in inter-city connectivity

Last Updated: Thu, Nov 27, 2014 18:00 hrs

Hyderabad, Nov 27 (IANS) The Japan Bank of International Cooperation (JBIC) Thursday said that it can help Andhra Pradesh in inter-city connectivity and water treatment in urban areas.

JBIC Governor and CEO Hiroshi Watanabe told Andhra Pradesh Chief Minister N. Chandrababu Naidu during a meeting in Japan Thursday that they can fund Japanese private companies that are interested to invest in these projects.

He said Japanese companies were thinking of locating their manufacturing to India. "We will surely help those companies to set up in India," he was quoted as saying by an official release here.

JBIC also stated that they can do joint operations with banks in India. "We are in talks with SBI and ICICI," Watanabe said.

Naidu also met officials of Japanese International Cooperation Agency (JICA).

JICA senior vice-president Hidaeki Domichi said that JICA is now focusing on Bangalore-Chennai industrial corridor and also concentrating on Krishnapatnam node.

Explaining the advantages and opportunities in the new state of Andhra Pradesh, the chief minister recalled his experience of working with JICA of various projects in Hyderabad.

Naidu said that Andhra Pradesh has a good land bank and has no issues with water and power. "Clearances will be faster. We want to become the best investment destination in India," he said while promising to roll out a red carpet for investors.

He sought JICA's cooperation in developing industrial nodes and road network, connecting all ports in the state, and requested JICA to set up an office in Andhra Pradesh.

Domichi noted that since Andhra is developing ports, it will be an attractive investment destination for Japanese businesses.

Naidu has offered to set up a special authority for a Japanese industrial park.

The delegation led by Naidu visited the headquarters of automobile major Isuzu Motors.

Isuzu executive vice-president and director, Masanori Katayama said that the company wants to establish a manufacturing unit for pick-up trucks in India.

He said that their new facility would be much more modern than the other 44 units across the world. "The new production site will attract other accessories related to the automobile industry. Many suppliers will come," he said.

Katayama said that Sri City could be a good destination for them.

"We hope by coming to AP, we will have a good access to Indian market. In this, we hope to have your cooperation," he said.

Mayewaka Manufacturing company, which makes compressors, is keen in establishing cold chains in the state's mega food parks.

Mayewaka Manufacturing chairman Yoshiro Tanaka said that they could provide refrigeration compressors used in cold chains and hospitals.