Amaravati: The Cabinet has approved the APCRDA Swiss Challenge proposals to develop seed capital, Chief Minister N. Chandrababu Naidu said at the Cabinet meet held on Tuesday at Velagapudi Secretariat. In the ratio of 42:58, a joint venture will be floated with the state-owned Amaravati Development Partner (ADP) and the Singaporean companies, which could be named as Consortium of Amaravati Development Partners, to oversee the capital construction, the CM said at a media briefing on Tuesday.
Mr Naidu said the Singaporean Consortium (Ascendas-Singbridge, Sembcorp) would be allowed to build the seed capital in an area of 6.84 sq km, even as 1,691 acres would be kept under the control of the ADP. Initially, 50 acres of land will be allotted either for free or nominal rates to the consortium for constructing iconic structures in the capital city. Another 200 acres of land will be alienated in favour of the master developer in the first phase for Rs 4 crore per acre and the rest of the land released in the next two phases.
The AP Cabinet had discussed in detail on the Swiss Challenge proposals as this had become controversial earlier. For this, the state government had even amended the AP Infrastructure Development Enabled Act and finally succeeded in Swiss Challenge.
The Cabinet decided to follow strictly the withdrawal of red beacons on VIP vehicles according to the decision of the Union government. The Cabinet approved to appoint Olympics champion P.V. Sindhu as Group-I officer. For this, the state Cabinet had decided to introduce the proposal to amend Regulation of appointment to Public Services and Rationalisation of Staff Pattern and Pay Structure Act II-1994 in the Assembly. The Cabinet approved 36 acres of land in Endada and Rishikonda to Gitam University to establish innovative and distance education centre.