Qatar Prince to invest 60k Crores for AP smart City!

Not Americans, Chinese or Japanese but just one person is ready to put in Rs 1 Lakh crore over the next five years and he is none other than the prince of Qatar, Hamad Bin Nasser A A Al-Thani, member of the ruling family, is looking at investing the sum in at least 10 smart cities.

The Prince along with a Delhi based businessman, Mitesh Sharma recently registered a company, NRS Enterprise Pvt Ltd, in India through which the investment would be routed for 10 smart cities in India. It is said that one city in Andhra Pradesh and one in Uttar Pradesh are selected in those 10 smart cities. Recently the company’s team has met the Chief Ministers of both the states.

In the first phase, the company will take up power, solar energy, infrastructure development, health care and education. They are aiming for the first project to take off by February-March 2015. According to MOU signed with AP, the company will invest 60000 Crores in the smart city of the state itself.