China ready to invest $160 bn in Andhra Pradesh

PTI Hyderabad, July 21, 2013 First Published: 13:38 IST(21/7/2013) | Last Updated: 15:03 IST(21/7/2013)

China is ready to invest about $160 billion in different sectors in Andhra Pradesh and improve bilateral ties with India, according to economic advisor to the President of China.
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Shoosan Maa, the economic advisor to Xi Jinping and also the Member of Parliament, met Chief Minister N Kiran Kumar Reddy in Hyderabad and discussed plans to invest in sectors like food processing, small-scale industries, infrastructure and education, among others, a CMO release said. While quoting Shoosan on China's intention of pumping in USD 160 billion in the state, the release did not state any timeframe or phases in which such a huge investment could materialise. "The Chief Minister invited proposals and asked Shoosan to spell out the areas in which they were interested in investing. Shoosan said he would make efforts for promoting investments and improving relations between the two countries," the release said. Shoosan said his country would send 10,000 students to Hyderabad for education in various streams, according to the release.