Date:02/11/2006 URL: http://www.thehindu.com/2006/11/02/stories/2006110203050300.htm

Andhra Pradesh - Nellore

Nellore emerging as investment hub

Staff Reporter

Rs. 50,000 cr. investments to flow into the district

Youth being made eligible for jobs in future

NELLORE: Oil and Natural Gas Corporation (ONGC) and Indian Oil Corporation (IOC) may set up a Liquefied Natural Gas (LNG) terminal at Krishnapatnam.

"With the Centre identifying Krishnapatnam as one of the suitable places for petrochemicals, both the ONGC and IOC have shown interest to set up an LNG terminal there with an investment of Rs 2,000 crore," Minister for Minorities Welfare Mohd. Fareeduddin said while addressing the Andhra Pradesh Formation Day celebrations here on Wednesday.

Besides modernisation works pertaining to the Krishnapatnam port would be completed by January 2008. And the district administration had been acquiring lands for 4,000-mw coal-based, ultra-mega power plant, critical thermal project and leather park on war-footing, he said. Outlining other investment proposals, the Minister said that M A S Holdings of Sri Lanka would set up Rs. 1,000 crores textile mill at Naidupet. Southern Mills Association will set up 15 spinning mills with Rs. 1,500 crores. And Singapore major Apache Investment Holdings Pvt. Ltd, will commence production in Mambattu of Tada mandal by December. "As a whole investments worth Rs 50,000 crores will come up in Nellore, which will soon become one of the important industrial hubs across the country," he said.

The Minister said the district administration will train unemployed youth in the age of 17 to 30 years to become eligible for the jobs.