AP govt will form a special purpose vehicle with private companies to build the new capital
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Guntur: The Andhra Pradesh government will form a special purpose vehicle with private companies to build the new capital city Amaravati as it seeks to involve domestic and foreign construction companies in the mega project. After inaugurating an exhibition organised by AP Real Estate Development Association at Guntur on Friday, AP Chief Minister N. Chandrababu Naidu said the government would include private construction and real estate development companies in the development of Amaravati. For this, he said an SPV would be floated with private construction companies.
He promised to make local companies partners in the capital building efforts along with the international companies. He, however, sought good quality work from them. Mr Naidu said Prime Minister Narendra Modi would lay the foundation stone for Amaravati on October 22. He also said the government will develop Amaravati better than Hyderabad in all aspects.
Mr Naidu said farmers had created history by giving up 33,000 acres of lands for the construction of a world-class capital and added that they would be suitably compensated under the LPS. Land Pooling Scheme. The Chief Minister said the government was planning to link all existing ports and the state will build another set of 13 to 14 ports along the 945-km coastline.
AP would become largest logistics hub due to connectivity with progressive countries like Japan, North Korea, China, Malaysia and Taiwan on the eastern side and will become
another "gateway of India" due to export and imports from these ports in the future. The CM mentioning about the linking of national, state highways and inner ring roads to
new capital Amaravati said that presently seven roads would be linked to Amaravati and in future more roads would be connected from every hook and nook of AP.
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