Amaravati Bonds for capital by end of August in Andhra Pradesh

The AP Capital Region Development Authority (APCRDA) will list the Amaravati Bonds to mobilise funds for capital construction, in the Bombay Stock Exchange (BSE) by the end of this month.

Published: 11th August 2018 05:10 AM  |   Last Updated: 11th August 2018 05:10 AM   |  A+A-

By Express News Service

VIJAYAWADA: The AP Capital Region Development Authority (APCRDA) will list the Amaravati Bonds to mobilise funds for capital construction, in the Bombay Stock Exchange (BSE) by the end of this month. The bonds would be issued at a coupon rate of 10.32 per cent, and the authority expects to raise Rs 1,300 crore with a greenshoe option of Rs 700 crore.

In the weekly CRDA review meeting on Friday, the authority officials informed the same to Chief Minister Chandrababu Naidu. “We will finish the process of uploading the details on the Electronic Bidding Platform (EBP) of the BSE by Tuesday. They will be listed by the end of August,” the officials said. They also invited CM Naidu to visit Mumbai to participate in the process.

Speaking on the occasion, CM Naidu directed the officials to expedite the construction of the 61 housing towers. He also told the authority to prepare plans to accommodate even the High Court judges in those towers, being constructed for Heads of Departments and other officials. “Draft a plan so that one of the towers could be given for High Court judges. Ensure that the works are expedited so that the towers are ready by December this year,” he said.

Naidu further told the officials to appoint another deputy collector rank official to ensure smooth registration of the farmers’ plots. He also agreed to send another group of farmers from the capital villages to Singapore. It may be recalled that three groups of farmers had visited Singapore earlier to study the socio-economic development model adopted by the island nation.

The Chief Minister also asked the officials to develop greenery on both sides of the 130km-stretch of national highway between Gannavaram and Chilkaluripet, besides beautifying the canal bunds in Vijayawada.

CM Naidu takes stock of the situation

Chief Minister Chandrababu Naidu gave a green signal to develop a 27-km-long stretch in Tirupati as a smart street. After the CRDA review meeting, the CM took stock of the Municipal Administration and Urban Development department. Chittoor collector PS Pradyumna informed the Chief Minister about the proposal to develop the ‘smart street’ from Alipiri, including a ‘smart’ flyover from Lakshmipuram to Alipiri, to which Naidu agreed.

Shapoorji and Pallonji Group to take up civil works

Noted infrastructure development agency Shapoorji and Pallonji Group has bagged the project to construct the permanent High Court in Amaravati. The developer will take up the civil works including superstructure and sub-structure of the G+7 building, which has been designed taking Buddha’s Stupa as an inspiration, along with a basement.

The mechanical, plumbing and electrical works would be executed by another contractor, to be identified through tenders. The High Court will have a built-up area of over 11 lakh sqft and will also have car parking for over 200 four-wheelers and 500 two-wheelers. The estimated cost of the project is close to J1,000 crore

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