AP Inks Pact With Singapore For Amaravati Startup

AP Government had signed MoU with Singapore for the development of Startup area in Amaravati core capital region.

Amaravati: The Andhra Pradesh government had signed Memorandum of Understanding with the Singapore Government to develop the 1961 acre StartUP area in the core capital of Amaravati. Chief Minister N Chandrababu Naidu and Singapore Minister for Trade and Industry, S Iswaran, signed the MoU.

Welcoming the initiative, Singapore Minister said that they would live up to the expectations of the government in developing Amaravati as the peoples’ capital. He said that in a span of two years they have moved on to the first step of realising the vision of building a new city. He further said that Singapore would help the AP government in mobilising global investments to the State.

Chief Minister Chandrababu Naidu said that he was overwhelmed at the turn of events in just two years. He said he had promised during the 2014 elections to build a global city for the State as its capital and today he could make a first step towards achieving the goal. He asserted that Amaravati would be one of the top five global cities very soon. Stating that he is aware of the quality and speed maintained by the Singapore in every work, he expressed confidence that Amaravati would be a reality soon.

He recalled the bifurcation of the State in 1953 from composite Madras State and relocation in Kurnool. He said that people of Andhra have gone to Hyderabad on the demand for unity of the Telugu speaking people. However, after 60 years, the people of Andhra were thrown out of Hyderabad on streets having no capital and no revenue. He said people of the State have trusted him for his abilities and experience in developing Hyderabad during his earlier stint. It was with that confidence in him, people have voted for him in 2014, he said.

Having come to power, he was going at a greater speed competing with national and international governments and corporate companies in developing Andhra Pradesh, he asserted. He said he was trying to overcome all the difficulties after bifurcation and was exploring all the resources to develop the State. He thanked the farmers of the capital region for giving 33,000 acres of land for the capital in land pooling system, which is a record in the world.

The Singapore Consortium would develop the core capital after developing and marketing the startup area, a joint venture project between AP government and Singapore government. The two governments would share the profits of the developed startup area at 58-42 ratio.

Later, the Chief Minister and the Singapore Minister visited the StartUp area near Uddanadarayapalem and visited the photo exhibition organised by the APCRDA detailing the progress of the capital works.

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