The Andhra Pradesh government has taken a significant step to implement special projects within the Amaravati capital and CRDA area by establishing a Special Purpose Vehicle (SPV) under the Companies Act, with orders issued by the Municipal Administration Department.
The SPV will have an authorized share capital of Rs. 10 crore, with the Municipal Administration Secretary holding 99.99% equity. The remaining 0.01% will be allocated to CRDA and other government agencies.
Key projects under the SPV include:
- Greenfield Airport
- NTR Statue at Neerukonda
- Smart Industries
- Iconic Bridge over Krishna River
- Sports City
- Riverfront Development
- Ropeway
- Amaravati Inner Ring Road
Board of Directors:
- Municipal Administration Secretary – Non-Executive Chairman
- Finance Secretary
- Energy Secretary
- Transport & Roads Secretary
- Housing and Industries Secretaries
- CRDA Commissioner
- Three Independent Directors from the industrial sector
SPV Responsibilities:
- Planning, development, and implementation of special projects in coordination with the state government and CRDA
- Management of projects through subsidiaries or joint ventures
- Preparation of new project concepts, feasibility reports, DPRs, financial models, and obtaining government approvals
- Selection, construction, and management of contractors through PPP, EPC, and hybrid annuity models
