The government of Andhra Pradesh is all geared up for setting the novel capital city of Amaravati. Keeping this in view, about 996 acres of land has been allotted for building of various educational, health and other institutions. The total cost of the allotted lands is estimated at about INR 17808 crore.
According to an AP government official, the state government is aiming to develop the capital city with an infrastructure that is at par with the global standards. He added that the work to these ends is underway. He further stated that plans are on for about a dozen new institution projects to be set up in the city, which is why the government has allotted 995.5 acres of land at a cost of INR 17808 crore for the purpose.
He said that with the establishment of these projects, about 32726 jobs will be created in the state. He added that the 12 institutions that are about to be set up will have the involvement of both private as well as government bodies. Vellore Institute of Technology (VIT) and SRM University with a total project amount of INR 7100 crore are among the dozen institutions that will make the new capital city their home.
Land has also been allotted to Indo-UK Institute of Health and Amrita University at a cost of INR 3200 crore. Additionally, the campus of BR Medicity Healthcare & Research is also being built at the cost of INR 5450 crore.
Other than this, land has also been allotted for setting up various government institutions including Reserve Bank of India, AP Human Resources Development Institute, Central Public Works Department, National Institute of Designs, Central Institute of Design Tools etc.
During the month of May, Andhra Pradesh government had roped in experts from Singapore to develop the startup area in the city of Amaravati that would span across 6.84km. While signing the deal, it was agreed upon that the project would be completed in phases. The two sides also made an agreement to cooperate with each other for the development of the startup area and enhancing economic development while also promoting bilateral investments and trade and improving the abilities of the governmental departments.
In order to speed up the implementation of this project a Joint Implementation Working Committee (JIWC) and a Joint Implementation Steering Committee (JISC) will be set up that would comprise of the higher officials of both the governments.
According to a statement released by the government, a project named SPV-Amaravati Development Partner (ADP) will be formed by Amaravati Development Corporation (ADC) and the Singapore Consortium. The equity participation of ADC in this project will be 42% which amounts to INR 222 crore while that of the Singapore Consortium will be 58% which amounts to INR 306 crore. According to the statement, ADC is all set to develop 1691 acres of land in the next 15 years with each development phase lasting as long as 5 years. Experts revealed that the benefits of this project include generation of 250000 jobs and a contribution of INR 115000 crore to GSDP.