AP Capital Region Development Authority signs Rs. 1,332-crore MoU with Japanese firm.

The AP Capital Region Development Authority (CRDA) signed an MoU worth Rs. 1,332 crore with Tokyo-based Kuni Umi Asset Management Company Ltd on the second day of the CII Partnership Summit-2018 on Sunday.

According to CRDA officials, the Japanese firm will invest in the fields of urban housing, tourism projects and IT sector in the capital region. It is expected to create employment opportunities for 650 people.

President and CEO of the firm Yasuyo Yamazaki and CRDA Commissioner Cherukuri Sreedhar exchanged the documents.

Meanwhile, the CRDA expects to sign close to a dozen MoUs on the concluding day of the three-day summit on Monday.

Officials said that MoUs worth another Rs. 20,000 crore are likely to be signed. So far, the authorities inked pacts worth Rs. 8,332 crore, both for infrastructure development in and around Amaravati.

THE NEW INDIAN EXPRESS