Singapore signs MoU for Amaravati development

Singapore signs MoU for Amaravati development
Highlights

The AP Capital Region Development Authority (APCRDA) and Singapore-Amaravati Investments Holding Ltd (SAIH) on Thursday signed a Concession and Development Agreement (CADA) in the presence of Chief Minister N Chandrababu Naidu and Singapore Minister for Communications S Iswaran to develop the start-up area in Amaravati during the 3rd Joint Implementation Committee meeting (JISC) in Vijayawada.  

Amaravati: The AP Capital Region Development Authority (APCRDA) and Singapore-Amaravati Investments Holding Ltd (SAIH) on Thursday signed a Concession and Development Agreement (CADA) in the presence of Chief Minister N Chandrababu Naidu and Singapore Minister for Communications S Iswaran to develop the start-up area in Amaravati during the 3rd Joint Implementation Committee meeting (JISC) in Vijayawada.

The JISC meeting followed by one-on-one meeting between Chandrababu Naidu and Iswaran in which they spoke about the teamwork between the Singapore Consortium and the AP government. After the meeting, Naidu addressing the media said the Singapore-Amaravati Investments Holding Ltd (SAIH) was formed to take forward the start-up area development in Amaravati.

The Chief Minister has said the AP government also requires the assistance of the Singapore Consortium to bring in convergence of activities in infrastructure, tourism, education and the service sector. “Catalytic Development should be our medium to bring in more investments and economic activities. Creating an ecosystem to encourage entrepreneurship is important for ensuring sustainability,” he said.

Naidu wanted the cooperation of Singapore in developing the tourism sector in Andhra Pradesh. Iswaran has agreed to the proposal of the Chief Minister to send AP students to Singapore under students exchange scheme. They also decided that direct flights between Singapore and Vijayawada should commence in a month. “The first flight from Singapore should land in Vijayawada on July 8,” said the Chief Minister.

Iswaran said they entered the (CADA) agreement with AP to prevent any legal problems in executing development projects (in Amaravati). “We are happy to work with AP keeping in mind the larger interests of the state,” he said.

Principal Secretary to APCRDA Ajay Jain presented a brief report on the progress in the capital city. “After substantial progress since November, singing CADA in 3rd JISC meeting is the last step towards starting the grounding of the start-up project,” he said Officials said the newly-formed organization, Amaravati Development Partners (ADP), consists of the Singapore Business Federation, CLC, and other members of the Consortium, will be developing a project called Catalytic Development, for acting as the centre for business activities and recording the development of the capital region. The project consists of a welcome gallery, an exhibition area and a visitor area that will be completed by June 2019. Officials from Metaverse presented their project of creating a virtual reality version of Amaravati.

The World Cities Summit will be hosted in Singapore from July 8 to 10, in which the Chief Minister will be speaking at the Mayors Forum (July 8) and the Plenary Opening Session (July 9). There will be a booth allotted to showcase the development and planning of Amaravati. Ministers Yanamala Ramakrishnudu, P Narayana, CRDA Commissioner Sreedhar Cherukrui and ADC Chairperson Lakshmi Parthasarathy and other officials represented the AP government in the JISC meeting.

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