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Officials clueless on Swiss Challenge
Senior officials in Andhra Pradesh government remained clueless about the Swiss Challenge Method (SCM) a preferred method opted by the State government in selecting a developer for the new state capital Amaravati.
Hyderabad: Senior officials in Andhra Pradesh government remained clueless about the Swiss Challenge Method (SCM) a preferred method opted by the State government in selecting a developer for the new state capital Amaravati.
Ahead of a scheduled meeting with their Singapore counterparts on January 18 in Hyderabad senior officials in Andhra Pradesh Industrial Infrastructure Development (APIIC), Investments and Project Promotion, Industries, Finance and Municipal Administration and Urban Development remained in dark about how to go about the whole process.
According to sources, the meeting was meant to decide on the modalities about the SWM and complete the process of selection of a developer before March, and then to start the first phase of seed capital development from June this year. The first phase of the project that is constructions in the Seed Capital will have to be completed by the end of 2018.
However, in the absence of any guiding framework or a state policy on SCM and such methods, officials were left with no other opportunity, but, to come to a conclusion only after going through what the Singapore team comes up with, the sources added. And, official worry as to what should be their course of action, if the government mounts pressure on them, to wrap up finalization of modalities of SCW without getting the proposals mooted by the Singapore scrutinized,” said a senior official.
The sources point out that this was one of the prime reasons why no decision has been taken even after signing a MoU with a UK-based Eros Investment Limited (EIL), to build an entertainment city with an estimated cost of Rs 60,000 is kept in cold storage. This project too was proposed to be rolled out through SCM. Clarifying more on the issue, a senior official said, the Eros Entertainment City was proposed to build a brand to the Visakhapatnam.
The multi-billion dollar project will have an amusement park, media city, hotels, leisure spots, and health care infrastructure, commercial and residential infrastructure. But, the issues like bankability of lands to raise capital or funds by the developer by mortgaging the lands given to the investor, concessions, underwriting provisions if any, contractual obligations, limitations, rights of the state government in SCM.
