Chandrababu Naidu-led government has decided to form another company for the construction of the capital Amaravati. This company will undertake several projects including the Greenfield Airport. To this end, the Urban Development Department’s Principal Secretary Suresh Kumar issued orders on Tuesday.
It will monitor the construction, management, financial aspects, debts, payments and all other aspects of the project. Ten lakh shares of Rs. 10 each have been allotted to this company, which will be formed under the Companies Act. There will be no increase in this price as per the decision of the board of directors.
Along with the AP CRDA already established for the capital, there is also the Amaravati Development Corporation. Apart from these, about 14 companies have been registered under different names. Under the auspices of the newly formed company, along with the Greenfield Airport, NTR statue, Smart Industries, Iconic Bridge, Sports City, Riverfront Development, Ropeway, Inner Ring Road and other newly identified projects will be undertaken.
In this, the AP CRDA Commissioner will be the directors along with the principal secretaries of the Urban Development Department, Finance Department, Power, R&B, and Industries Department. Later, the opportunity was given to elect three independent directors.
The newly established company was given the right to provide the necessary funds and mortgage the lands. It was also given the opportunity to collect user charges. Along with collecting funds for new projects, it will prepare the necessary projects and prepare DPRs for them. It will assign construction responsibilities to contractors in methods such as PPP, EPC, HM. It will also be responsible for preparing documents to enable the implementation of projects approved by the government.
It will also prepare the necessary plan for project management in the PPP method. The newly established company was also given the opportunity to select corporate entities to undertake projects here. Meanwhile, the acquisition notification given earlier for 343.36 cents of land for which a land acquisition announcement was issued earlier in the capital Amaravati area has been cancelled.
Previously, an acquisition notification was issued for about 1500 acres. Of this, about 1200 acres were denotified by the previous YSRCP government. 343.36 acres, which had already been built for roads and other constructions, are still pending. Cases are also being filed in the High Court on this. As per the suggestion of the Advocate General, the old notification was cancelled to remove the lands that were previously under notification.
