VIJAYAWADA: With an objective to follow-up on the Amaravati-specific investment proposals received so far, Chief Minister N Chandrababu Naidu has directed the AP Capital Region Development Authority (APCRDA) to constitute a special cell or a committee. Along with the APCRDA, the cell will have members from AP Economic Development Board, Industries, Investments, Finance, IT and other key departments to convert the proposals into investment.
While the special cell or the committee will predominantly focus on the proposals that had come during the recently-concluded World Cities Summit, the officials said it would also follow-up on the domestic investments. With several of the public-private partnership projects planned in the capital region not taking a concrete shape due to lukewarm response from the investors, this intervention, the officials expect, would expedite the process. The special team will also deliberate with the firms that have entered into MoUs with the APCRDA during the CII Partnership Summits.
“As we have a gigantic task ahead, the authorities should work efficiently as per our promise to investors on global platforms,” Naidu said in a teleconference on Sunday.
To ensure that the construction of the capital is not affected due to a cash crunch, the Chief Minister instructed CRDA Principal Secretary Ajay Jain, and Finance department officials to take up a study on the interest rate pattern in the global banking scenario to identify the lowest interest rates available for borrowing loans. Naidu, who had also participated in the World Cities Summit Mayors Forum in Singapore, has directed CRDA Commissioner Cherukuri Sreedhar to invite all 165 representatives to the forthcoming Happy Cities Summit which is to be held in Amaravati in April next.