Two companies in Amaravati construction race

Ascendas or Sembcorp, the companies owned by Singapore government are most likely to be selected to build the core capital area of Amaravati. Both the companies expressed their willingness to bid for that and the modalities of the agreement will be decided in Naidu’s Singapore tour which is underway. One of the selected companies will develop 375 acres of land for construction of government buildings and another 250 acres for the proposed iconic towers.

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These towers will create about 20 lakh square feet of office space and the company will sell them to private companies which will bring investments to the state. The government buildings in the 375 acres will be funded by the center. Ascendas and Sembcorp will supervise the construction.

The first phase construction will be complete by October 2018 and the remaining area of 20000 acres will be developed in phases basing on the demand and cost-benefit analysis. After finalizing the modalities, the AP government will call for tenders under Swiss challenge method. If any company outsmarts the proposal submitted by Singapore companies in both cost and execution time, then AP government will invite the company to take up the capital construction.