Malaysian companies keen to invest in Amaravati

Amaravati, Oct 3 (IANS) Malaysian companies have evinced interest to invest Rs 6,000 crore to Rs 10,000 crore in Andhra Pradesh capital Amaravati over the next five years.

The Malaysian team, including Selangor State Minister Papparaidu Veraman, Klang MP V. Ganabatirau, representatives of the Malaysia-Andhra Business Chamber, and representatives of several private companies, held talks with Municipal Administration and Urban Development Minister P. Narayana here on Friday.

The team, which has been visiting the state since October 1, went around Amaravati along with Minister Narayana and saw the progress of the work on various components of the state capital.

Minister Papparaidu said that they will work with India for the development of Amaravati.

Representatives of several companies, especially those of people of Telugu origin in Malaysia, explained their projects to Minister Narayana through a PowerPoint presentation.

According to an official statement, the Malaysian companies have come forward to invest in projects relating mainly to key sectors of education, tourism, hospitality, trade and commerce, real estate (technology transfer, development, infrastructure development), and Telugu culture.

The University of Cyberjaya has come forward to set up a medical university in Amaravati, while Berjaya Group has come forward to set up five-star hotels.

Minister Narayana briefed the Malaysian representatives on the development works being undertaken in Amaravati and said that Amaravati will be among the five top capitals in the world.

He said that Amaravati is being built in a planned manner under the leadership of Chief Minister Chandrababu Naidu.

He told the Malaysian delegation that tenders for works worth Rs 51,000 crore have already been completed, and work has also started. He also told them that construction work will be completed within the specified deadlines.

Narayana stated that the state government has set a target of completing 360 km of trunk roads in the capital city within a year and a half, 1,500 km of layout roads within two years, and 4,000 houses for officials, employees, and public representatives by the end of March next year.

He said that they are also moving forward with a target of completing the administrative buildings, such as the Secretariat Towers, Assembly and High Court buildings, within two and a half years.

The minister told the Malaysian team that the work was hampered to some extent due to the rains for the last three months, but that the work will speed up in the coming days.

Municipal Department Principal Secretary Suresh Kumar, Capital Region Development Authority (CRDA) Commissioner Kannababu, and CRDA Additional Commissioner Bhargava Teja were present.

--IANS

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