Notwithstanding the criticism from all quarters and rap from the courts, Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu finally favoured only Singapore consortium in the development of Amaravati, the new capital of Andhra Pradesh.
With the Naidu cabinet clearing the Singapore consortium as master developer of Amaravati under Swiss Challenge system, decks have been cleared for the capital construction.
In a couple of weeks, the AP government sign the final agreement with the Singapore’s Ascendas-Singbridge through the Amaravati Development Corporation (ADC).
The AP Capital Region Development Authority (APCRDA) would now hand over the land to the Singapore Consortium to build the new capital.
Both the Singapore Consortium and the AP government would share profits in 58:42 per cent ratio. This is in addition to the 1.5 per cent royalty on the land, which was taken in pooling from the farmers.
The APCRDA would keep the land with it and allocate the same to the Singapore consortium in different stages depending on its plans for the development of the new capital.
It is alleged that Naidu’s family has indirect share in the Singapore consortium and hence, it would pave way for massive corruption in the deal. Watch out for the outbreak of scam in the coming days!
