SBI Term Loan: RLLR: 8.15 | 7.25% - 8.45%
Canara Bank: RLLR: 8 | 7.15% - 10%
ICICI Bank: RLLR: -- | 8.5% - 9.65%
Punjab & Sind Bank: RLLR: 7.3 | 7.3% - 10.7%
Bank of Baroda: RLLR: 7.9 | 7.2% - 8.95%
Federal Bank: RLLR: -- | 8.75% - 10%
IndusInd Bank: RLLR: -- | 7.5% - 9.75%
Bank of Maharashtra: RLLR: 8.05 | 7.1% - 9.15%
Yes Bank: RLLR: -- | 7.4% - 10.54%
Karur Vysya Bank: RLLR: 8.8 | 8.5% - 10.65%

Andhra Pradesh government to issue fresh tenders for Amaravati development worth INR 41,000 crore

#Top Stories#India#Andhra Pradesh
Last Updated : 15th Nov, 2024
Synopsis

The Andhra Pradesh government intends to issue additional tenders to finish the development of Amaravati within three years. Minister P. Narayana indicated that between 2014 and 2019, tenders of INR 41,000 crore were issued, with work costing INR 35,000 crore completed. The World Bank agreed to provide INR 15,000 crore, but demanded immediate flood protection efforts. New tenders for critical buildings will be announced shortly. A technical committee report will steer the new tenders. Plans include the construction of reservoirs, architecture inspired by the Netherlands, and ring roads.

The Andhra Pradesh government is preparing to issue new tenders for the development of the state capital, Amaravati. State Municipal Minister P. Narayana announced this during a press briefing following the 39th Capital Region Development Authority (CRDA) meeting. The government plans to issue fresh tenders to complete the pending development projects within the next three years.


Minister Narayana stated that between 2014 and 2019, tenders worth INR 41,000 crore were issued, with projects totaling INR 35,000 crore being completed. These constructions featured important infrastructure including the High Court, Assembly buildings, and apartment complexes for judges, ministers, and other officials.

Narayana stated that the World Bank had allocated INR 15,000 crore to Amaravati's construction, but that flood prevention measures must be completed as soon as possible. To meet this requirement, the government intends to construct reservoirs both within the 217 square kilometre core capital district and in surrounding areas. This effort attempts to improve the city's flood management and infrastructure resilience.

The minister added that existing Amaravati tenders would soon be closed to make space for new ones. The new tenders for the High Court and Assembly buildings are likely to be given before January, while tenders for other development projects will be released by the end of December.

To resolve issues related to the old tenders, the government had formed a technical committee on 24 July. This committee, composed of chief engineers, was tasked with examining the challenges and submitting recommendations. The committee's 23-point report, delivered on 29 October, is expected to guide the issuance of new tenders and ensure that pending issues are managed effectively.

The state government's new growth plans call for the construction of gravity canal reservoirs and storage reservoirs based on models used in the Netherlands, which is noted for its advanced water management system. Reservoirs will be developed in Kondaveeti and Palavagu within Amaravati, while others will be built outside the main zone in Neerukonda, Krishnayapalem, Sakhamuru, and Undavalli.

In addition to these measures, Narayana confirmed that an inner ring road and an outer ring road would be constructed as part of the development strategy. Although bypass roads are also in progress around the city, these ring roads are seen as key elements in enhancing the region's infrastructure.

Have something to say? Post your comment