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AP-Singapore's Profit Sharing Deal @ Amaravati
By: Tupaki Desk | 27 Sep 2015 8:08 AM GMT
Singapore has agreed to partner with AP Government in the development of proposed new capital Amaravati.
Under the banner 'Amaravati Development Partners', AP Government and Singapore's Master Developers to collaborate for the construction of Amaravati on a profit-sharing basis. As part of the deal, Singapore will be developing 3,000 acres of land in AP Capital along with the State Government. Both AP Govt and Master Developers invest in the new capital construction. The land Ownership remains with the Amaravati corporation. Out of the 15,000 acres which remain with AP Government after allotting the developed land to farmers, 3,000 acres of land will be given to Singapore's Master Developers. The Singapore Consultants will bring Industries and other business establishments in this land, but allotting permission for them will be in the hands of CRDA.
Chances were bright that Singapore's SembCorp and Temsek Holdings Pvt Ltd are likely to partner with AP Government in Amaravati construction. Singapore will submit the profit-sharing formula to AP Government within 10 days.
Under the banner 'Amaravati Development Partners', AP Government and Singapore's Master Developers to collaborate for the construction of Amaravati on a profit-sharing basis. As part of the deal, Singapore will be developing 3,000 acres of land in AP Capital along with the State Government. Both AP Govt and Master Developers invest in the new capital construction. The land Ownership remains with the Amaravati corporation. Out of the 15,000 acres which remain with AP Government after allotting the developed land to farmers, 3,000 acres of land will be given to Singapore's Master Developers. The Singapore Consultants will bring Industries and other business establishments in this land, but allotting permission for them will be in the hands of CRDA.
Chances were bright that Singapore's SembCorp and Temsek Holdings Pvt Ltd are likely to partner with AP Government in Amaravati construction. Singapore will submit the profit-sharing formula to AP Government within 10 days.
