A delegation of China 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 Guizhou province has emerged as one of the key investors in Andhra Pradesh. Both Guizhou Province and Andhra Pradesh have recently signed a sister-state agreement and are instrumental in driving the next phase of Andhra Pradesh-China ties.
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 yesterday met officials from the Capital Region Development Authority (CRDA) and identified projects that they could execute immediately.
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 Guizhou Kailin Group is already in advanced stages with India’s Coromandel International Limited for establishing a $1 billion fertilizer plant in the Kakinada Special Economic Zone. The Guizhou Kailin Group is interested in establishing a facility at the vicinity of the ports in Andhra Pradesh..The Poly Permanent Union Holding expressed interest in exploration of bauxite in Andhra Pradesh.
Chief Minister N Chandrababu Naidu said “Andhra Pradesh was striving to achieve infrastructure-driven growth and Guizhou’s rich experience in infrastructure will be a boon for Andhra Pradesh as the State was investing in infrastructure for industrial growth”. The delegation would also impress upon the Bank of China to establish a branch in Andhra Pradesh to cater to increasing investments from China. The Chief Minister also invited the companies of Guizhou Province to the Partnership Summit 2017 scheduled on January 27 and 28 next month. (NSS)