Cabinet approves Swiss challenge model to develop Amaravati

The Andhra Pradesh government has on friday decided for clearance of contentious Swiss Challenge Model for selecting the master developer plan for new capital city Amaravati. The state Cabinet said that under the chairmanship of Chief Minister Chandrababu Naidu, approved the Swiss Challenge model after a committee headed by Yanamala Ramakrishnudu (Finance Minister) cleared the proposal. Preparation media at the end of the Cabinet meeting, the Chief Minister said a Singapore consortium of Ascendas-Singbridge and Sembcorp Development Limited had submitted a proposal on October 30 last year under Swiss Challenge to be the master developer of Amaravati. We have thoroughly perused the proposal at various levels and the high-powered committee gave its approval in the last week. We discussed this in the Cabinet meeting and approved the Singapore consortium’s proposal, Chandra Babu said. Singapore government has 74.5 % equity in the consortium.