The devasthanam will be getting the revenue share, said an Incap official
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Hyderabad: Telugu Desam Member of Parliament from Anakapalli Mr Muttamsetty Srinivas Rao’s brother M. Krishna Rao owned educational institutions bagged Vizag international school project.
Infrastructure Corporation of AP has floated the project where in 15 acres prime government land belonging to Simhachalam devasthanam will be handed over to consortium of Nova and Priyadarshini educati-onal institution. INCAP officials said the consortium has quoted more revenue share than two other bidders.
An official of INCAP said,”We have finalised the bidder out of three bids. The consortium of Nova and Priyadarshini educational institutions that run several schools and colleges in AP and Telangana has quoted 6.39 revenue share to the government in PPP mode while Nalanda and Brilliant quoted less than that. The revenue sh-are will got to Devasthanam. Due to this we have selected it. The state government will now finally approve the project.” The syllabus would by either IB or Cambridge IGCSE.
The 15-acre land at Adavivaram in Visakhapatnam belongs to Sri Varaha Lakshmi Narasimha Devasthanam of Simhachalam.
The devasthanam will be getting the revenue share, said an Incap official. The total cost of the project is estimated at Rs 93.4 crore with a total of 2.72 lakh sft which has to be invested by the firm.
The site has 22 acres and seven acres of land can't be utilised due to high-tension power line. The proposed site is 13 km from MVP Colony of Vizag. The endowments department will be a concessioning authority.
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( Source : deccan chronicle )
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