VIJAYAWADA: The Amaravati Development Partners (ADP), consisting of Singapore Consortium and Amaravati Development Corporation Ltd (ADCL), is scheduled to hold its ninth board meeting in Vijayawada on Monday.
According to the agenda, the ADP, formed for the development of the proposed start-up area in Amaravati, will review the fulfilment of the conditions under the Concession and Development Agreement (CADA) signed with the Government of Andhra Pradesh. The board of directors will also take stock of the annual business plan of the ADP.
The fate of the start-up area in the capital region remains uncertain as the new YSRC dispensation is yet to take a call on the development of Amaravati.
In Monday’s meeting, the Singapore representatives may also discuss their future course of action as there has been no response from the new government.
The development of start-up area, by developers picked under Swiss Challenge method, has not begun even though the Singapore Consortium signed the agreement with the State government in June, 2018. A delegation from Singapore had recently met Chief Secretary LV Subrahmanyam, seeking a clarity.
For the record, the Singapore Consortium — Ascendas Singbridge and Sembcorp Development — holds 58 per cent stake in ADP, while ADCL holds 42 per cent. The ADP was to develop 1,691 acres in three phases. The consortium would be solely responsible for bringing in investors and development of the land given by APCRDA.