May 15, 2017

Foundation stone laid for the start-up area of capital city Amaravati

Foundation stone laid for the start-up area of capital city Amaravati

Hon'ble Chief Minister of Andhra Pradesh Shri N.Chandrababu Naidu and Singapore Trade and Industry Minister Shri S. Iswaran laid the foundation stone for the start-up area of Capital city Amaravati at a glittering ceremony at Mandadam in Guntur district.

Addressing the public meeting, after laying the foundation stone for the start-up area in Mandadam village of Amaravati, he said Singapore companies have enough experience as they developed properties in an area of over 5 crore square feet in 19 countries. He exuded confidence of having 8 lakh square feet built up area in next three years in the start-up area. He added that the master plan developed by the Singapore government helped foster a vision for the development of master capital. He thanked the Singapore government for its participation and predicted that Amaravati will be better than Singapore. He added that Amaravati will be built on par with international standards.

Chief Minister promised to develop Amaravati into the most liveable city , with a "people's first" concept on par with Singapore. He signed a Memorandum of Understanding (MoU) with the Singapore consortium to develop a start-up area in Amaravati.

The consortium consisting of Ascendas Singbridge Pvt Ltd and SembCorp Development Ltd along with Amaravati Development Corporation as Amaravati Development Partners(ADP) will execute project works in the allotted area in three phases over a period of 15 years. The consortium will spend Rs.3,000 crores in 15 years at the startup area of 6.84 square kilometres for the development of infrastructure and construction of dividing in the new capital Amaravati.

Shri Iswaran signed an MoU on behalf of the Singapore government for strengthening ties with Andhra Pradesh for mutual cooperation in areas including economic development, nurturing of the proposed start-up area, enhancing capacities of the Government of Andhra Pradesh Department and agencies and promoting bilateral trade and investment.

Speaking on the occasion, he said it was in December 2015 that Singapore ties with Amaravati began. Following a request for help from the state government in preparing master plans for the capital. "Given the urgency of the master plans the Singapore government took it upon itself to complete them in record time. They were handed over in July 2015. Singapore involvement could have ended quite easily at that point, but the Chief Minister had a vision of Singapore and Andhra Pradesh extending and deepening their partnership in the development of Amaravati, which has led to many other spheres of cooperation." he explained.

The Singapore Minister said the start-up area would have excellent infrastructure and high quality buildings for residential, commercial and public use, attracting investors from both India and overseas. He said the spot would be "The heart of Amaravati", adding that the ties between Singapore and Andhra Pradesh was a key part of broader strategic partnership between India and Singapore.

Shri Iswaran said he would encourage the Singapore companies to study the "Sunrise Andhra Pradesh 2029" vision document to understand the priorities of the state and use the opportunities that arise out of Amaravati's development. Stating that tangible results could be achieved only if both parties worked in tandem, he assured complete cooperation in the implementation of the MoU in letter and spirit.

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