Naidu invites Singapore cos to invest in Amaravati.

Posted by Avenue.in on July 11, 2018
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chandrababu naidu singapore world cities summit
Amaravati: The three-day Singapore tour of Andhra Pradesh Chief Minister, N Chandrababu Naidu, concluded on Tuesday, with the CM inviting Singapore companies and others to invest in the new capital. Chandrababu Naidu had gone to Singapore to participate in the world cities summit and showcase the potential of the new capital, Amaravati.

In response to the CM’s presentation, the Asian Infrastructure Investment Bank (AIIB) Director-General of Investment, Pang Yee Ean, said: “The bank is willing to work with AP to develop roads, water supply, irrigation and electricity sectors.”

Lodha group CEO Abhishek Mangal Prabhat Lodha came forward to invest in malls and entertainment sectors in Amaravati. The Chief Minister has invited Fotescue metals group of Australia to set up a steel plant in Kadapa. It may be noted that Fotescue metals group has come forward to set up a floating storage degasification unit and lithium battery manufacturing unit in AP.

SMH Rail of Malaysia and Royal Holdings of Singapore have also expressed readiness to invest in metro rail manufacturing, infrastructure, entertainment and housing sectors. The Eli Hajaj group has expressed interest to set up an aero hub in AP to produce 75 per cent of aircraft components and has requested the Chief Minister to allot land.

The group has promised to start production within six months after allotment of land. Dassaults Systems has also explained about its plans to reduce the day temperature in Amaravati capital region.

On the second day of tour, an MoU was signed between Asia Competitiveness Institute-Lee Kuan Yew School of Public Policy and Government of Andhra Pradesh in capacity building and to introduce high standards in latest technology.

On Tuesday, the concluding day of the tour, the CM Naidu met Singapore Finance Minister Hung Swee Keat and discussed plans to develop Amaravati with Singapore’s co-operation.