TDP, Congress vie credit for Fab City
With Hyderabad bagging the semiconductor fabrication facility both the Congress and the TDP are busy claiming credit for the $3 bn deal.india Updated: Feb 11, 2006 16:36 IST
With Hyderabad bagging the semiconductor fabrication facility - known as the Fab City project - both the ruling Congress and the main opposition Telugu Desam Party (TDP) are busy claiming credit for the $3 billion deal.
TDP president and former chief minister N Chandrababu Naidu claimed it was because of the efforts made by his government in the past that the state could bag the prestigious project for manufacturing semiconductors.
Naidu, who was chief minister from 1995 to 2004, recalled that he had allotted 5,000 acres of land for an international airport and another 5,000 acres for a hardware park near it.
"It was to ensure that any hardware industry coming up near the airport should be able to transport immediately its products anywhere in the country and the world," said Naidu, who is generally credited with the tremendous progress made by the city in the information technology sector.
The ruling Congress reacted sharply to the claim by Naidu.
"While some efforts made by Naidu in the past could have helped the state, it is really unfair on his part to say that the state could get the project (Fab city) because of him," said Finance Minister K Rosaiah.
The finance minister said the pro-active efforts made by the state during the last 21 months opened the floodgates to major investment. These include decision by the OP Jindal Group to set up an aluminium refinery and aluminium smelter near Visakhapatnam at a cost of Rs 90 billion ($2 billion), Oil and Natural Gas Commission (ONGC) setting up a refinery at Kakinada at a cost of Rs.75 billion, a green field refinery-cum-petrochemical complex by Hindustan Petroleum Corporation Limited (HPCL) with an investment of Rs.85 billion and expansion of Visakhapatnam Steel Plant at a cost of Rs 86.92 billion.
He pointed out that Singapore-based Apache Investment Holdings Pte Ltd, an exclusive supplier of footwear to Adidas, will invest Rs.5 billion to set up a factory in Tada in Nellore district and Brandix of Sri Lanka had signed a MoU with the state for promotion of an integrated Apparel Park in Visakhapatnam which would provide employment to 60,000 women.
He also pointed out that total FDI during Naidu's regime was less than Rs 40 billion despite all the hype.
First Published: Feb 11, 2006 14:02 IST