Amaravati Development Partners (ADP) has recently signed a Concession and Development Agreement with State Government of Andhra Pradesh to acquire the development rights, licences and required authorisations/concessions for the development of Amaravati Capital City Start-up Area.
Amaravati Development Corporation (ADC) is an agency of State Government of Andhra Pradesh. Amaravati Development Partners (ADP) was incorporated by Singapore Amaravati Investment Holdings (SAIH) which is a wholly owned joint venture company of Ascendas-Singbridge Andhra Investment Holdings and Sembcorp Development India. SAIH holds 58% share while ADC holds 42% share in Amaravati Development Partners (ADP).
Amaravati is the new capital city that the SGOAP has planned to develop for the newly constituted state of Andhra Pradesh. The aspiration is to create a compelling destination for global investments and talent.
According to recent press release from Ascendas-Singbridge, The Start-up Area lies within the 20-square kilometre Seed Development Area of Amaravati City, along the River Krishna waterfront. The Start-up Area is to be developed in phases for next 15 to 20 years and it is expected that the project will create the first centres of activity attracting settlers and investment into Amaravati City.
Credits: Ascendas-Singbridge Press Release