As the new Telugu Desam Party (TDP)-led National Democratic Alliance (NDA) government has begun groundwork to resume construction activity, domestic and foreign investors are showing interest in pumping in money.
Some of them have already approached the Andhra Pradesh Capital Region Development Authority (APCRDA) to convey their interest.
After a gap of five years, Amaravati came alive with the TDP-Jana Sena-BJP alliance coming to power with a thumping majority this month. Reiterating his commitment to develop Amaravati as the sole capital of the state, Naidu visited the region last week. past and reviewed the status of various components of his dream project launched during his previous term.
The APCRDA and state government officials are busy preparing revised cost proposals to seek central assistance.
Naidu, whose TDP party, with 16 MPs, is a key partner in the BJP-led NDA government at the Centre, is likely to seek liberal assistance to complete the project in two to three years. In parallel, the Chief Minister has started inviting private investors to Amaravati.
During a brief stopover in Bengaluru, while returning from his home district of Chittoor on Wednesday, Naidu met some senior executives of a couple of companies.
He invited Century Real Estate Holdings to invest in Amaravati. The company's CEO Ashwin Pai told Naidu that they would take a decision on the matter soon. Two days ago, the Australian Consul General for Tamil Nadu, Andhra Pradesh, Kerala, Puducherry, Andaman and Nicobar, and Lakshadweep, Silai Zaki, visited Amaravati and called on APCRDA Commissioner Katamaneni Bhaskar.
They discussed investment opportunities for Australian entrepreneurs in the capital of Amaravati.
Chandrababu Naidu wants to complete the works that were started earlier but stalled in 2019 after the YSR Congress Party government decided to develop three state capitals. The Chief Minister held talks with representatives of companies awarded works for various projects.
These projects include accommodation for officials, ministers, MLAs, MLCs and All India Service employees.
Government officials are negotiating with companies to clear the way for early resumption of work.Multi-story apartments (G+12 floors) for state legislators and AIS officials, bungalows for senior bureaucrats, Secretariat and Office towers General Administration, High Court building, court complex and additional court rooms, E6 main road, accommodation for NGOs, apartments meant for type -1, Type II Officers and group D employees and bungalows for judges and ministers are the works for the that were tendered. Some of the buildings are nearing completion.
APCRDA officials hope that the completion of these works will boost the entire project and help showcase Amaravati once again as a potential investment destination.
After the field visit, Naidu announced that a white paper on the status of the Amaravati capital city project would be released soon. He invited suggestions from people, including NRIs, to develop the state capital. It was in 2015 that Prime Minister Narendra Modi laid the foundation of Amaravati, Naidu's brainchild.
Naidu had got Singapore to prepare the master plan for Amaravati.
With nine thematic cities and 27 municipalities, it was planned in an area of 217 square kilometers as a world-class city. Designed not simply as an administrative capital but as an economic and job creation center and a tourist center, it was planned to be developed in three phases, capital city and capital region.
Amaravati then attracted the attention of investors from countries such as Australia, Japan, Germany, Singapore and Britain.
Naidu's grandiose plans to build the state capital require about Rs 1.5 lakh crore. Works worth Rs 38,000 crore on projects like roads and the state secretariat complex were started in 2018. However, work came to a complete halt in 2019 when the Y. S. Jagan Mohan Reddy-led YSRCP government revoked the decision. of the previous government and announced his plans to build three state capitals.
Jagan Mohan Reddy had proposed Visakhapatnam as administrative capital and Kurnool and Amaravati as judicial capitals.
However, the three-capital plan failed due to strong opposition from farmers of 29 villages in the Amaravati region, who had donated 33,000 acres of land for the development of the state capital. Construction in Amaravati created uncertainty among investors.
The World Bank and the Asian Infrastructure Investment Bank (AIIB) were the first to withdraw from a project to finance the development of Amaravati. They had committed $300 million and $200 million, respectively, to the project.
The biggest blow came when a consortium of Singapore companies closed the Amaravati Capital City startup project, the deal for which was signed during the TDP government. It remains to be seen how Naidu will once again attract global investors to Amaravati.
After taking charge as Minister of Municipal Administration and Urban Development on June 16, P. Narayana said the capital works of the state will be completed in two and a half years.
According to him, the development of Amaravati in three phases will cost Rs 1 lakh crore. The first phase was taken up by the previous TDP government for Rs 48,000 crore.
Some of them have already approached the Andhra Pradesh Capital Region Development Authority (APCRDA) to convey their interest.
After a gap of five years, Amaravati came alive with the TDP-Jana Sena-BJP alliance coming to power with a thumping majority this month. Reiterating his commitment to develop Amaravati as the sole capital of the state, Naidu visited the region last week. past and reviewed the status of various components of his dream project launched during his previous term.
The APCRDA and state government officials are busy preparing revised cost proposals to seek central assistance.
Naidu, whose TDP party, with 16 MPs, is a key partner in the BJP-led NDA government at the Centre, is likely to seek liberal assistance to complete the project in two to three years. In parallel, the Chief Minister has started inviting private investors to Amaravati.
During a brief stopover in Bengaluru, while returning from his home district of Chittoor on Wednesday, Naidu met some senior executives of a couple of companies.
He invited Century Real Estate Holdings to invest in Amaravati. The company's CEO Ashwin Pai told Naidu that they would take a decision on the matter soon. Two days ago, the Australian Consul General for Tamil Nadu, Andhra Pradesh, Kerala, Puducherry, Andaman and Nicobar, and Lakshadweep, Silai Zaki, visited Amaravati and called on APCRDA Commissioner Katamaneni Bhaskar.
They discussed investment opportunities for Australian entrepreneurs in the capital of Amaravati.
Chandrababu Naidu wants to complete the works that were started earlier but stalled in 2019 after the YSR Congress Party government decided to develop three state capitals. The Chief Minister held talks with representatives of companies awarded works for various projects.
These projects include accommodation for officials, ministers, MLAs, MLCs and All India Service employees.
Government officials are negotiating with companies to clear the way for early resumption of work.Multi-story apartments (G+12 floors) for state legislators and AIS officials, bungalows for senior bureaucrats, Secretariat and Office towers General Administration, High Court building, court complex and additional court rooms, E6 main road, accommodation for NGOs, apartments meant for type -1, Type II Officers and group D employees and bungalows for judges and ministers are the works for the that were tendered. Some of the buildings are nearing completion.
APCRDA officials hope that the completion of these works will boost the entire project and help showcase Amaravati once again as a potential investment destination.
After the field visit, Naidu announced that a white paper on the status of the Amaravati capital city project would be released soon. He invited suggestions from people, including NRIs, to develop the state capital. It was in 2015 that Prime Minister Narendra Modi laid the foundation of Amaravati, Naidu's brainchild.
Naidu had got Singapore to prepare the master plan for Amaravati.
With nine thematic cities and 27 municipalities, it was planned in an area of 217 square kilometers as a world-class city. Designed not simply as an administrative capital but as an economic and job creation center and a tourist center, it was planned to be developed in three phases, capital city and capital region.
Amaravati then attracted the attention of investors from countries such as Australia, Japan, Germany, Singapore and Britain.
Naidu's grandiose plans to build the state capital require about Rs 1.5 lakh crore. Works worth Rs 38,000 crore on projects like roads and the state secretariat complex were started in 2018. However, work came to a complete halt in 2019 when the Y. S. Jagan Mohan Reddy-led YSRCP government revoked the decision. of the previous government and announced his plans to build three state capitals.
Jagan Mohan Reddy had proposed Visakhapatnam as administrative capital and Kurnool and Amaravati as judicial capitals.
However, the three-capital plan failed due to strong opposition from farmers of 29 villages in the Amaravati region, who had donated 33,000 acres of land for the development of the state capital. Construction in Amaravati created uncertainty among investors.
The World Bank and the Asian Infrastructure Investment Bank (AIIB) were the first to withdraw from a project to finance the development of Amaravati. They had committed $300 million and $200 million, respectively, to the project.
The biggest blow came when a consortium of Singapore companies closed the Amaravati Capital City startup project, the deal for which was signed during the TDP government. It remains to be seen how Naidu will once again attract global investors to Amaravati.
After taking charge as Minister of Municipal Administration and Urban Development on June 16, P. Narayana said the capital works of the state will be completed in two and a half years.
According to him, the development of Amaravati in three phases will cost Rs 1 lakh crore. The first phase was taken up by the previous TDP government for Rs 48,000 crore.
