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Andhra Pradesh allots land for projects worth Rs 17,808 crore

To set up educational, health and other bodies

Press Trust of India  |  New Delhi 

Representative image
Representative image

As gears up to shape its new capital Amaravati, it has allotted 996 acres of to a dozen institutions to set up educational, health and other bodies at a projected cost of Rs 17,808 crore.

"Work is in full swing to create a world-class infrastructure for Andhra Pradesh's new capital A dozen institutions have been allotted 995.5 acre of in for projects worth Rs 17,808 crore," an government official told PTI.

The official said these projects will create 32,726 jobs. and the 12 institutions to come up will involve the government as well as private bodies and include Rs 7,100 crore projects from Vellore Institute of Technology (VIT) University and SRM University.

Besides, Amrita University and Indo-UK Institute of Health have been allotted at a cost of Rs 3,200 crore.

In addition, BR Medi City Health Care & Research is building its campus at an estimated cost of Rs 5,450 crore, the official said.

The land has also been allotted to Reserve Bank of India, Central Public Works Department, Central Institute of Design Tools, National Institute of Designs and AP Human Resources Development Institute, among other government institutes.

Last month, the government inked a pact with Singapore for developing an area of 6.84 km at capital as startup area in phases.

The two sides affirmed cooperation for economic development and master development of the startup area beside promotion of bilateral trade and investments and enhancing capacities of government departments.

A high-level Joint Implementation Steering Committee (JISC) and Joint Implementation Working Committee (JIWC) will also be formed with senior officials from both the governments for speedy implementation of the project.

An official statement said a Singapore consortium will form a project — Amaravati Development Partner (ADP) with Amaravati Development Corporation (ADC).

The Singapore consortium will have an equity participation of Rs 306 crore (58%) while will have Rs 222 crore participation (42%).

"will develop an area of 1,691 acres in 15 years in three phases of each about 5 years," an official statement has said adding estimated benefits include 250,000 jobs while contribution to GSDP will be Rs 115,000 crore.

First Published: Wed, June 14 2017. 16:45 IST