Reportedly in yet another major development related to amaravati, the upcoming capital of andhra pradesh, the singapore government on tuesday said that it had accepted the decision of the ysrcp government to close the amaravati capital City Start-Up Area project. Meanwhile the announcement came a day after the state government, led by chief minister jagan Mohan Reddy, issued a government Order dated november 11, 2019, making the decision official.
A press release from the Singapore government's Ministry of Trade and industry stated "The closure is based on mutual consent between the government of ap and the singapore Consortium (comprising Ascendas Singbridge Pte Ltd (now part of CapitaLand Group) and Sembcorp Development Ltd)". Furthermore the singapore government added that companies remained interested in opportunities in andhra pradesh and other indian states, "because of the size and potential of the market."
Iswaran country's Minister-in-charge of Trade Relations said “ After the ysrcp stormed into power in May this year, it halted all ongoing construction projects in the capital region, and alleged that Naidu had resorted to insider trading and corruption during the construction of the capital”. Meanwhile a temporary Secretariat, assembly and high court have been built in the capital region, along with seed roads connecting various villages, many construction projects are stuck in limbo.
