"It is a pleasure for me to participate in this function to lay the foundation stone of the manufacturing plant being set up by NTPC - BHEL Power Projects Limited, a joint venture company of National Thermal Power Corporation and Bharat Heavy Electricals Limited.

 

This is indeed a moment of pride for all of us. But it is also an occasion to pay tribute to a very tall leader from Andhra Pradesh - Dr. Y. S. Rajshekhar Reddy. Tomorrow will be the first death anniversary of Rajshekharji. It was his untiring efforts that brought this project to the backward area of Chittoor district. The manufacturing plant being set up here will always remind us of the great love and affection that Rajashekharji had for the people of Andhra Pradesh and this area. It will stand testimony to the concern he felt for the welfare of his people.

 

I also commend the leadership of my Cabinet colleagues Shri Vilasrao Deshmukh, Minister of Heavy Industries and Shri Sushil Kumar Shinde, Minister of Power, and Shri K. Rosaiah, Chief Minister of Andhra Pradesh in taking this project forward. I congratulate them for the meticulous planning that has gone into the project and the speedy allotment of land for it. The project also exemplies the importance of coordination between the Central Government and the State Governments.

 

Availability of affordable power is of critical importance for our country's development. We must bridge the gap between the supply and demand of power if we are to achieve higher rates of economic growth on a sustained basis. Therefore, we have drawn up an ambitious programme for addition of power generation capacity in the 11th and 12th five year plans. This large addition in our power generation capacity will mean a much larger demand for power equipment. I am happy that our public sector has come forward to take a lead in manufacturing power equipment in our country to help us achieve our targets in the power sector. Our two Navratna Companies - National Thermal Power Corporation and Bharat Heavy Electricals Limited have joined hands to form a new company thus bringing together their vast experience and expertise.

 

I am told that an amount of nearly Rs.6000 crore will be invested over a period of five years to fully establish this manufacturing plant. The plant will be able to produce power equipment required for additional capacity of 5000 MW per year by 2014-15. It will provide direct employment to 6000 men and women and indirect employment to another 25000. I also appreciate the vision of state government to have a large industrial hub around this plant.

 

I am sure that this manufacturing plant will go a long way in improving the economic condition of the people of this backward region. I wish it all success. I also wish the people of Andhra Pradesh and Chittoor district prosperity and happiness for the future."