World’s largest alternative asset manager Blackstone Inc mulls investment in Andhra Pradesh

Visakhapatnam: Blackstone Inc, the world’s largest alternative asset manager, has reportedly expressed interest in investing in Andhra Pradesh, with the company’s representatives recently visiting Makavarapalem in Anakapalli district.

According to sources, the company needs 450 to 500 acres, for which its representatives visited the land bank earmarked for industries by the AP Industrial Infrastructure Corporation (APIIC). A team of higher officials is also likely to visit the area in a couple of weeks, sources said.

Revenue authorities had identified 4,400 acres as a land bank, including govt and D patta land, in Pydipala, Papayyapalem, Peddipalem and Burugupalem villages three months ago. Although the land is yet to be acquired, Blackstone Inc’s representatives visited land parcels at Pydipala, accompanied by local tahsildar L Rama Rao, deputy tahsildar Raj Bharat and others.

Local authorities briefed them about the basic infrastructure available when the representatives enquired about the availability of power supply, water and roads. Confirming the representatives’ visit, APIIC zonal manager Narasimha Rao said, “We don’t know what kind of project they will take up. They asked about basic infrastructure facilities such as power, water and roads.”

Following the foundation stone for Google’s data centre at Tarluwada in Anandapuram mandal of Visakhapatnam district, many big companies are showing interest in north Andhra, which is transforming into a major industrial, IT, and data centre hub of AP.