Now that the newly-formed Telugu Desam Party-led National Democratic Alliance government in Andhra Pradesh, headed by Chief Minister N. Chandrababu Naidu, has declared Amaravati as the sole capital city of the state, investors have begun to show renewed interest in investing in the capital region.
As the Andhra Pradesh Capital Region Development Authority (APCRDA) resumed work on previously abandoned projects, several foreign companies that had initially discussed setting up their projects in Amaravati with the former TDP government but later withdrew their plans are now reconsidering.
On Tuesday, representatives from the Australian Consulate visited Amaravati and held discussions with APCRDA authorities, led by Commissioner Katamaneni Bhaskar, to understand the current status of the capital city projects. They expressed interest in collaborating with the Andhra Pradesh government in Amaravati.
Australian officials indicated their readiness to present proposals for investing in Amaravati. They inquired about opportunities to invest in commercial establishments and sought information on when the capital city projects would restart and whether there were any legal hurdles.
Commissioner Bhaskar explained the specialties of Amaravati and the availability of land banks. He also discussed the master plan and identified areas where Australian businesses could invest.
A few days ago, Naidu held discussions with various central public sector undertakings that had been allotted land in Amaravati in the past. He urged them to restart their projects to stimulate development in Amaravati.