In what is being seen as a tough stand, Andhra Pradesh government seems to have turned down the request made by Singapore in handing over the land to the tune of 3,000 acres for building new capital fully under their management.
Government will be retaining its ownership
The state cabinet meeting yesterday has take a decision that the government will be retaining its ownership over this land while also involving countries like Singapore, Japan and foreign countries.
Sources say that construction process would be on the basis of profit and investment sharing pattern in a swiss challenge method with the state government alone having major share in the capital construction.
The capital will be reportedly coming up in 3,000 acres around the three seed capital villages of Mandadam, Tallayapalem as well as Uddandarayudipalam. Arrangements have started for this high-profile event for which the foundation-laying is being held on October 22.
