Andhra Pradesh government is reportedly planning to create a new option for the much publicized construction of the proposed state capital. The government will reportedly be floating a new corporation with Singapore as a partner and together they would be taking up the capital construction process.
Amaravati Development Partners Corporation
Sources say that both will be having a share in the profits. Japan is all set to be a partner too in this corporation, which would be likely named Amaravati Development Partners Corporation and it would be partners with those who bring investments into the capital region.
Singapore seems to have agreed to become partner for development of 3000 acres. The land ownership will be with the mentioned corporation while the master developers who would be recommended by the Singapore government would be investing money in the corporation.
Singapore’s SembCorp and Temsek Holdings Pvt Ltd consortium will be likely partnering with AP for Amaravati Corporation. After allotting the developed land to the farmers, the state government would be having around15,000 acres of land and from this 3,000 acres will be given to Singapore consultants. The Singapore government is reportedly working on a profit sharing formula which would be announced in 10 days.
