AP cabinet approves land allotment of 100 acres for Shetty group.

Posted by Avenue.in on December 2, 2016
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Br shetty group land allotment amaravati medical university
Amaravati: The AP state Cabinet, which met at the Velagapudi Secretariat on Thursday, decided to allot 100 acres of land at the rate of Rs 50 lakh per acre in Amaravati to BR Shetty Group of Dubai to set up a medical university, a 1,000-bed hospital, medical equipment manufacturing unit, naturopathy centre and staff quarters with an investment of Rs 10,000 crore.

In addition to Shetty group, GOAP has allocated 11 acres for RBI, 28 acres for CPWD and 200 acres for Amrita University. Allocation of the land to these would be identified as per CRDA Master Plan. Out of 11 acres allocated to RBI, 5 acres is to be utilized for office premises and rest for Residential. 11 acres allocated for Central public works department will be used for office purpose and remaining would be used for residential purpose. GOAP has allocated 150 acres in first phase and remaining land will be allocated later in second phase.

The Cabinet decided to extend surety to get a loan of Rs 1,859 crore from Hudco or other agencies for Amaravati Metro Rail Corporation, to take forward the project. The Metro rail project in Vijayawada costs Rs 7,212 Crore including `829.50 crore equity each from Union and state governments.

The Cabinet also approved the draft Bill to bring amendment to AP Infrastructure Development Enabling Act 2001 to attract more investments from private sector.

The Cabinet also decided to allot 200 acres to Apollo Tyres Limited at Chinapanduru of Varadayapalem mandal in Chittoor to set up a modern tyre factory. It also decided to extend guarantee to provide cash credit facility to APCO to purchase clothes at a cost of Rs 52.48 crore and yarn at Rs 5.84 crore from 2016-17 to 2018-19. The Cabinet decided to sanction and upgrade 195 posts in three departments, Mr Reddy said.

Source: Times of India
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