Hyderabad: AP Chief Minister Chandrababu Naidu met heads of Japanese financial institutions, industries and other companies in Tokyo on Monday to attract investments to the state. Mr Domichi Hidaeki, senior vice-president of JICA (Japan International Cooperation Agency) informed Mr Naidu they would like to consider participating in the capital consultancy bid and also participate in power project financing of the Chennai-Bangalore Industrial Corridor (CBIC) and Krishnapatnam Industrial Park.

The Chief Minister asked Mr Hidaeki whether JICA could prepare an action plan for the next 15 years. “According to estimates, our capital would need nearly $50 billion investment over the next 15 years. Based on the needs, can JICA prepare an action plan for the state?” he questioned. Mr Hidaeki said he would discuss it with senior officials and the government. Stating that good governance was the reason for many companies eyeing AP for investments, the JICA chief said that during the last summit meeting between Prime Ministers Narendra Modi and Shinzo Abe, Japan had committed $35 billion of investments and a good part of this could go to AP. Executive MD of Japan Bank of International Cooperation (JBIC), Mr Koichi Yajima told Mr Naidu that SoftBank is preparing to invest in solar power in AP.

The Sumitomo Corporation, meanwhile informed the AP delegation that feasibility study and preliminary report on the Bhavanapadu power project — a 1,000-MW project at Polaki in Srikakulam district — was ready. The MoU between AP and Sumitomo was signed last November. JBIC will finance the project. Sumitomo’s infrastructure division chief also evinced interest in the capital development.

President of Yokohama Port, Mr Masayuki Takashima, told the CM that they would prepare a master plan for collaboration between Yokohama Port and AP ports such as Kakinada, Krishnapatnam and Visakhapatnam ports.

Fuji Electric’s representative director Mr Yoshio Okuno informed the CM that they had identified a site in Vijayawada for the smart grid project. It will be taken up on pilot basis. However, the main project will be concentrated in the state capital, he added.

Senior vice-president of Mitsubishi Corporation, Mr Yasuhiko Kitagawa, meanwhile assured that as part of their global CSR programme, they were setting up a Japan Information and Study Centre at Andhra University. This Centre will promote Japanese language courses and introduce locals to the Japanese culture.