Malaysian agency likely to invest ₹10,000 cr in Telangana

The Construction Industry Development Board of Malaysia is likely to invest about ₹10,000 crore on various infrastructure projects in Telangana. CIDB Chief Executive Officer Abdul Latif Hitam has assured Telangana IT and Industry Minister KT Rama Rao that the board would consider investing in the State.

An official team, led by Rama Rao, is on a two-nation tour. After visiting Singapore to hold discussions with government officials and businesses, the team reached Malaysia yesterday.

“The board has already written a letter to Telangana Chief Minister K Chandrashekar Rao. The board would invest through its arm CIDB Holdings as part of the ‘Going Global’ strategy,” a State government official said in a statement.

“The board had signed an agreement with the Rajasthan government for taking up projects with an outlay of ₹10,000 crore. It is also in talks with Karnataka and Maharashtra. A CIDB team would soon visit Telangana to explore the opportunities,” the statement, quoting the minister, said.

The Minister also held discussions with the Chemical Company of Malaysia (CCM) Managing Director Ariff Bin Abdul Shatar. He requested him to consider investing in Telangana.

The Minister met Malaysia Prime Minister Najib Razak on Thursday and the latter is likely to visit the State next year.

Source: The Hindu

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