Chief Minister Y S Jagan Mohan Reddy is contemplating on cancelling the start-up agreement with Singapore consortium.
If the news coming from the Velagapudi Secretariat is to be believed, the Jagan Mohan Reddy government had sent a communication to the Singapore Consortium to come for talks on cancellation or rework on the agreement.
The previous TDP government had signed an agreement with the Singapore Consortium and had given 1691 acres of land to develop start-up city.
The Singapore agreed to build core capital for AP with Secretariat, Assembly, Raj Bhavan and Chief Minister’s Office.
The UK-based architect, Norman and Fosters, had finally given designs for Secretariat and Assembly during the TDP government.
The Singapore consortium will first develop a township in the 1691 acres of land, sell the plots and flats with which it was agreed to build the core capita for the State.
Now that the new government has different plans on the capital city development, it is planning to convince the Singapore consortium to cancel the previous agreement and go for a fresh one.
Finance Minister Buggana Rajendranath had already visited Singapore once and held initial talks.
If the Singapore consortium is not ready to cancel the agreement, the issue would then go to the London court for settlement.
However, the sources in the government say that the conditions offered afresh by the Jagan Mohan Reddy government were also favourable to the Singapore consortium and hence it might not take the issue to the London Court.