Will an SPV Transform Mega Projects in Amaravati?

Amaravati, Aug 18 (NationPress) A Special Purpose Vehicle (SPV) will be established to oversee several esteemed projects in the forthcoming capital of Andhra Pradesh, Amaravati, according to an announcement made on Monday.

The 51st meeting of the Capital Region Development Authority (CRDA), led by Chief Minister N. Chandrababu Naidu, approved the formation of the SPV for initiatives including the greenfield airport, NTR statue, sports city, smart industries, riverfront development, inner ring road, and ropeway.

The CRDA also sanctioned land pooling for the gems & jewellery park as part of the ‘Gold Cluster’ project in Mangalagiri. Specifically, 78 acres at Atmakur near Mangalagiri will be collected under the Land Pooling Scheme (LPS).

Special LPS guidelines for this cluster have also been approved. CM Chandrababu Naidu directed that a strong infrastructure be established to create a dedicated ecosystem around the cluster. Officials from the CRDA indicated that the project is anticipated to attract investments of Rs 5,000 crore and generate nearly 20,000 jobs.

Additionally, the authority allocated Rs 904 crore under the critical infra and investment plan for LPS Zones to enhance basic amenities such as drains, water supply, and essential infrastructure works across 29 village panchayats within the capital region.

The Chief Minister called for the selection of an iconic design for the bridge spanning the Krishna River that will connect Amaravati. He suggested exploring innovative designs, including those inspired by the traditional Kuchipudi dance form.

The meeting also approved the removal of the term “assigned” from ownership certificates issued under the Land Pooling Scheme, the establishment of a sewerage water treatment plant in Amaravati at a cost of Rs 411 crore, the setup of a water distribution centre at Rs 376.6 crore, and the allocation of an additional 100 acres each to VIT and SRM universities.

Naidu instructed that all construction activities in the capital region should progress without delay. He requested officials to upload project details online for ongoing public updates, emphasizing that the capital should visibly take shape within the current construction season.

The Chief Minister insisted that projects managed by the SPV, such as the sports city, must adhere to international standards. He also emphasized the need for seamless integration of the riverfront, ropeway, and inner ring road projects.

He stressed the importance of promoting only pollution-free industries and investments in the capital area, announcing that a prestigious Bio-Engineering University will soon be established in Amaravati.

Highlighting Amaravati’s unique geographic advantages, which are unmatched elsewhere in the country, the CM stated that every construction must be iconic. He directed that all projects should be designed to generate economic activity alongside development.

The CRDA meeting included Minister P. Narayana, Chief Secretary K. Vijayanand, and senior officials from various departments.