Singapore to invest heavily in AP capital!

It is already known that Andhra Pradesh Chief Minister Chandrababu Naidu has sought the help of Singapore government for the construction of the state capital. AP has proposed a Special Purpose Vehicle (SPV) to construct the capital. The state has proposed to invest 51 per cent and has asked the Singapore government to invest 49 per cent in the SPV.

However Singapore government is yet to be convinced about the Return on Investment from the project as the government did not complete the land pooling terms with the farmers. It is known that Ku Teng Chai – the key strategist in Singapore Planning and Development department and Executive Director of Center for Livable cities (CLC) is added to the capital advisory committee.

He will be touring the capital region from 9th December and will prepare a report regarding the opportunities here. Singapore government will decide its participation based on the report. Andhra Pradesh government will show the ROI to the investors from selling of developed lands to companies and also selling some or whole portions of the buildings that are going to be constructed.