VIJAYAWADA: The State government has decided to spend Rs 32,500 crore in the next four years to provide basic infrastructure for the new capital city Amaravati. Officials concerned were directed by Chief Minister N Chandrababu Naidu to expedite efforts to get the funds at low interest rates by engaging in a dialogue with international financial institutions.
Speaking at a review meeting on the progress of various works pertaining to Amaravati here Wednesday, he said in the next 10 years, a sum of Rs 43,000 crore will be spent on development of Amaravati as a world class city. Of the entire amount, a major chunk will be spent in the first four years for infrastructure like housing, roads, quality power, drinking water, drainage system and waste management among others.
He wanted the officials to renew their efforts to persuade the top ten educational institutions in the world to set up their branches in Amaravati and also to attract corporate hospitals, industries and star hotels.
The officials informed the Chief Minister that they plan to spend Rs 4,967 crore for roads, Rs 750 crore for drinking water and drainage system, Rs 3,287 crore for power distribution network, Rs 250 crore for greenery, Rs 1000 crore for flood mitigation system and Rs 519 crore for basic infrastructure in capital city villages. The required Rs 32,600 crore will be secured in nine different ways and 30 per cent of the total project cost will be borne by the State government, they explained.