Infrastructure important for development: Reddy

Andhra Pradesh Chief Minister Y S Rajashekar Reddy today said 'infrastructure' is very important as it is all pervasive and precedes development.

Speaking at a CII Summit on "Sustainable Public and Private Partnerships(PPPs) in Infrastructure" here, Reddy pointed out that infrastructure projects do not yield the desired results very fast as the gestation period is too long.

"We need the private sector to fund the gap," he said.

The Chief Minister said it was important for governments to come out with policies with a human face.

"Economic Growth sans employment growth cannot be acceptable. We are confident that investment on infrastructure creation does facilitate to multiply employment opportunities at various levels. The resultant growth is more sustainable and more inclusive to all sections in the society" he said.

On his government's PPP initiatives, Reddy said it was confident of finding investment for the outer ring road in Hyderabad, an eight-lane high speed corridor for a stretch of 22 kms. The government was spending a little less than five hundred crore for this project, he said.

Two minor ports at Machilipatnam and Nizampatnam in Andhra Pradesh were set for rapid investment in the current year, he said adding work on two more ports-Gangavaram and Krishnapatnam were progressing rapidly.

The government would soon set up a 'Maritime Board' to establish sound logistics chain to facilitate faster movement of freight coupled with optimisation of the potential available for inland waterways.

"I am confident that private investment in this sector would result in projected cargo movement of nearly 100 million tonnes in the next couple of years," he said.

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