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Shivaji Sarkar
New Delhi, Sept 28: The World Bank has decided to review the procedures and methods of financing information technology projects in Andhra Pradesh, chief minister N Chandrababu Naidu said.
Naidu soon after returning from his US visit told The Financial Express that he had been successful in getting massive investment in IT projects for his state. The World Bank decision would further step up investment process in the state and a number of IT companies like IBM, Intel, Hewlett Packard, GE and CISCO offered to set up their bases in Andhra Pradesh.
The most significant achievement was the asurance of Micorsoft giant Bill Gates for setting up an independent Microsoft campus at Hyderabad and develop Hyderabad as a major centre in the region.
Naidu said that World Bank chairman James Wolfensohn, and chief of other IT companies not only agreed to finance the projects in Andhra Pradesh but also agreed to simplify the funding procedures. The World Bank assured to treat the projects to be set up in Andhraas fast track ones.
Naidu said that he had purposeful meetings with the chiefs of international financing agencies, IT companies, leading multi-nationals and venture capital funds.
Naidu said he expected a steady investment in his state from all these agencies.
Intel has agreed to participate in Indian Institute of Information Technology (IIIT) and also to assist in sprading computer education in secondary schools in Andhra Pradesh. An Intel team would visit the state, for an on-the-spot survey, next month.
Hewlett Packard has decided to set up a HP lab at IIIT while GE assured to invest in IT related back office operations.
Another IT giant, Cisco offered to prepare a blueprint for providing fibre optic conncetivity in Andhra Pradesh.
Naidu said that Motorola would assist the state in the use of wireless technologies for networking in the state.
Magma Solutions Inc, ASA Computers Inc, Euclid, Cybertech International, Phoenix Technologies, Invesys Technologies, Visual Soft Inc, Oxbridge LLC, DIIwere the other leading IT companies who have agreed to start their operations in Hyderabad. National Semi-conductor Inc, announced that it will upgrade its Hyderabad unit as the largest semi-conductor fabrication in India.
WB James Wolfensohn and Naidu also discussed funding for power sector and also sought technical assistance for setting up distance education systems. Wolfenshon sought the chiemf minister's suggestions on urban poverty alleviation programmes.
Naidu said he had also discussed participation of International Finance Corporation (IFC) in the AP Infrastructure Initiative Fund and funding of small and medium industries with IFC vice-president Jannik Lindbeck. An IFC delegation would visit the state next month.
Morgan Stanley chairman John Meck offered services of his company for promotion of investments while Dow Jones chairman Peter Kann said that the state would include in their future expansion plans.
The US-based AMOCO agreed to assist in manufacturing distribution of dimethyl fuel(DME) in the state. The fuel used in power plants and is liekly to give an impetus to mini-power projects proposed to be set up in the state.
Naid said that New Jersey and Milpitas expressed keenness in having sister state relationship with Andhra Pradesh.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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