CM Chandrababu Naidu’s strive to build a world-class capital city (Amaravati) in Andhra Pradesh will soon take a step forward as the state government is set to sign a Memorandum of Understanding (MoU) with Singapore based Ascendas-Singbridge group, which is Asia’s leading provider of sustainable urban and business space solutions.
An official MoU is expected to be signed by AP Chief Minister Chandrababu Naidu and Singapore trade minister Eswaran on this Monday. Around 72 experts & officials are expected to be part of delegation from Singapore. Planned to finish development of capital Amaravati in three phases, Babu wanted the foreign company to finish the first phase in five years.
As part of 1st phase, the Singapore-based consortium will build a massive financial tower with eight-lakh square feet of built-up area. And the first phase will come up in 600 acres and total area is 1691 acres. The Ascendas-Singbridge group had previously built International Technology Park Limited (ITPL) in Bangalore city.
The goal: a market where 1,25,000 Crore investments can come in and generation of jobs for 1,25,000 people. By setting up an Urban Art Commission, AP govt. would like to monitor the quality of buildings in new capital and all the building clocks will be of similar shape.
