Amaravati Development Set to Restart with a Massive Rs 50,000 Crore Investment: Naidu
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Amaravati, Jan 10 (NationPress) The Chief Minister of Andhra Pradesh, N. Chandrababu Naidu, stated on Friday that the development of the state capital, Amaravati, will continue with a substantial investment of Rs 50,000 crore.
He revealed that a ring road is being planned around Amaravati, stretching over 183 km, which is significantly larger than the Hyderabad Outer Ring Road.
“Upon completion, Guntur and Amaravati will merge,” Naidu remarked during the inauguration of the NAREDCO Property Show in Guntur.
He described Amaravati as a self-sustaining project and noted that real estate development generates valuable assets.
Naidu expressed his vision for Amaravati to be the best model city, confident that it would set a new benchmark in the country.
“Additionally, other cities including Visakhapatnam, Guntur, Nellore, Kurnool, and Tirupati will also undergo similar development,” he mentioned.
The Chief Minister emphasized his desire for the construction sector to regain its vigor and pledged full support to developers. He assured prompt resolution of any challenges faced.
He reminded builders that the Brand Andhra Pradesh is just beginning to attract investments, citing that the state secured investment pledges amounting to Rs 4 lakh crore within seven months of the coalition government. This investment is projected to generate four lakh jobs and assist the government in achieving its goal of 20 lakh jobs within five years.
Naidu also noted the launch of projects valued at Rs 2.08 lakh crore by Prime Minister Narendra Modi just two days prior.
“We are progressing under the 'Build AP' initiative and are committed to revitalizing the construction sector that suffered tremendously during the past five years,” the Chief Minister asserted.
He accused the previous YSRCP administration of severely undermining the state, leading to the decline of the construction industry.
“The public has shown their trust in us, granting a historic victory with a 93 per cent strike rate and 53 per cent votes. We have initiated the state's reconstruction immediately after taking office,” he added, while acknowledging persistent challenges.
He expressed hope for industrial development and increased profitability in agriculture, alongside a boost in tourism to enhance the state's revenue across all sectors.
Only through these means can the real estate sector flourish, he remarked, highlighting that over 40 lakh families rely on this industry.
He pointed out the introduction of the free sand supply system by the TDP-led NDA government, stating that the government has empowered everyone to inquire about the provision of free sand.
