USIBC aim to invest in Telangana and Andhra Pradesh
Rajeev Mukundan informed that the company will expand by investing $5 billion additionally
By : DC Correspondent
Update: 2015-04-21 00:42 GMT
Hyderabad: US-India business Council (USIBC) led by executive vice president Diane Farrell met Andhra Pradesh Chief Minister N. Chandrababu Naidu on Monday at Lake View Guest House and said that several companies have come forward to invest in the state.
Mylan Laboratories Ltd, senior vice president (Legal), Rajeev Mukundan, informed that the company, which has four facilities in Vizag, will expand by investing $5 billion additionally in the state. Hospira Inc, managing director, Srini Srinivasan also said that they have already invested Rs 2,500 crore in its Vizag facility. In addition, a delegate from Johnson & Johnson also evinced interest in working with the state on reducing infant and maternal mortality rate, women health and hygiene.
Meanwhile, the delegation also expressed interest to invest in Telangana, especially in the pharma, healthcare, IT and infra sectors and called upon state IT and panchayat raj minister K.T. Rama Rao. The team appreciated the Telangana government’s initiatives in the last 10 months and explained the merits of city of Hyderabad for investment into various sectors.