Amaravati To Get Investments From Malaysia
Members of several Malaysian firms, many of them linked to Telugu-origin entrepreneurs, made detailed presentations on their investment plans across multiple sectors.
Vijayawada:Amaravati is poised to attract major overseas investments. A Malaysian business delegation has expressed its intent to pump in between Rs 6,000 crore and Rs 10,000 crore over the next five years.
The visiting delegation, which included Selangor state minister Papparaidu Veraman, Klang MP Ganabathirao and representatives of the Malaysia-Andhra Business Chamber, met urban development minister P Narayana at the secretariat on Friday.
Members of several Malaysian firms, many of them linked to Telugu-origin entrepreneurs, made detailed presentations on their investment plans across multiple sectors. These companies showed interest for investment principally in sectors like education, tourism, trade and commerce, real estate and cultural projects connected to Telugu traditions.
Notably, Malaysia’s Cyberjaya University has proposed establishing a medical university, while the Berjaya Group is keen on setting up five-star hotels in Amaravati.
Narayana explained to the delegation the capital city’s ongoing development, noting that chief minister Chandrababu Naidu was determined to position Amaravati as one among the world’s top five capitals.
The minister said the tendering process was over for construction contracts worth `51,000 crore and works were under way. The government, he said, has set strict targets: 360km of trunk roads within 18 months, 1,500km of layout roads within two years, and 4,000 houses for government officials by March next year.
He assured the delegations that core administrative buildings, including the secretariat towers, assembly, and high court complexes, would be completed within two-and-a-half years. Despite recent weather-related delays, the work would gather pace. “Amaravati is being built with clear timelines and a firm commitment,” he told the Malaysian delegation.
Selangor Minister Papparaidu Veraman said Malaysia looked forward to partnering with India in Amaravati’s growth. Principal secretary Suresh Kumar, CRDA commissioner Kanababu and additional commissioner Bhargav Teja were also present.