Singapore government has agreed to partner with Andhra Pradesh government to develop the proposed new capital, Amaravati. AP Government and Singapore’s Master Developers will collaborate for the construction of Amaravati under the banner ‘Amaravati Development Partners’.
Singapore will be part of the construction process on a profit-sharing basis. As part of this deal, Singapore govt. will be developing 3,000 acres of land in Amaravati.
The land Ownership will remain with the Amaravati corporation despite both AP Government and Singapore’s Master Developers investing in the construction process.
Out of the 15,000 acres which will remain with AP Govt. after allotting the developed lands to Farmers, who submitted their lands in the first place, 3,000 acres will be given to Master Developers.
As per the Singapore government, they will bring Industries in this land. The authority of allotting permission for the industries will be in the hands of CRDA though.
Singapore’s Master Developers will submit the profit-sharing plan to AP Government in couple of days.
