+
Andhra Pradesh forms committee to look into Amaravati and other plans
ECONOMY & POLICY

Andhra Pradesh forms committee to look into Amaravati and other plans

In a bid to review and study developmental plans in Andhra Pradesh as well as the upcoming capital of Amaravati, the state government has reportedly set up a committee consisting of five members – urban planning experts. They have been charged with the responsibility to analyse the project plans that have been implemented up until now and recommend an extensive strategy to ensure that the state is developing and growing on all fronts. The newly formed committee has been directed to submit the report around mid-December.

The move is seen in the backdrop of the World Bank and Asian Infrastructure Invest Bank’s (AIIB) decision to withhold funding and withdrawing their support for the Amaravati project. Reportedly, the organisations in total were going to previously provide funding of $500 million, while the Andhra Pradesh Government was going to contribute $200 million.

At a recent AIIB event in Mumbai, Laurel Ostfield, Director General & Company Spokesperson, AIIB, shared with CW, “We were co-financing this project with the World Bank, but are no longer funding it. The decision has been made by our investment committee, and the deliberations remain highly confidential.” 

As per a statement released by World Bank, on July 15, the Government of India withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision. However, the World Bank continues to support the state with over a $1 billion programme that covers the health, agriculture, energy and disaster management sectors.

Going by reports, it remains unclear if the formation of the committee is solely related to determining the scope of the Amaravati project or not. Further clarity is expected only post the submission of the requested report.

In a bid to review and study developmental plans in Andhra Pradesh as well as the upcoming capital of Amaravati, the state government has reportedly set up a committee consisting of five members – urban planning experts. They have been charged with the responsibility to analyse the project plans that have been implemented up until now and recommend an extensive strategy to ensure that the state is developing and growing on all fronts. The newly formed committee has been directed to submit the report around mid-December. The move is seen in the backdrop of the World Bank and Asian Infrastructure Invest Bank’s (AIIB) decision to withhold funding and withdrawing their support for the Amaravati project. Reportedly, the organisations in total were going to previously provide funding of $500 million, while the Andhra Pradesh Government was going to contribute $200 million. At a recent AIIB event in Mumbai, Laurel Ostfield, Director General & Company Spokesperson, AIIB, shared with CW, “We were co-financing this project with the World Bank, but are no longer funding it. The decision has been made by our investment committee, and the deliberations remain highly confidential.”  As per a statement released by World Bank, on July 15, the Government of India withdrew its request to the World Bank for financing the proposed Amaravati Sustainable Infrastructure and Institutional Development Project. The World Bank’s Board of Executive Directors has been informed that the proposed project is no longer under preparation following the government’s decision. However, the World Bank continues to support the state with over a $1 billion programme that covers the health, agriculture, energy and disaster management sectors. Going by reports, it remains unclear if the formation of the committee is solely related to determining the scope of the Amaravati project or not. Further clarity is expected only post the submission of the requested report.

Next Story
Real Estate

We aim to triple our India business by 2030

Step into a TOTO bathroom and you don’t just see design – you feel it. From the soft, warm seat to the gentle rhythm of cleansing water and silent air drying, every interaction is engineered for delight. TOTO doesn’t sell products; it crafts rituals. With Japan’s legacy of innovation and India’s appetite for refined living, the brand is not just redefining luxury – it’s awakening the senses, one ‘Washlet’ at a time.In an exclusive conversation with FALGUNI PADODE, Group Managing Editor, CW, Shiozawa Kazuyuki, Managing Director, and Kokubu Yohei, Sales Unit Head, TOTO Ind..

Next Story
Real Estate

Not Just Glass Boxes!

India is moving away from the ‘glass box’ syndrome, all-glass façades that were widely used in commercial buildings in the last two decades but came at a significant environmental cost given the country’s predominantly hot and humid climate. Poor thermal performance, excessive heat gain and dependency on mechanical cooling systems made buildings with glass façades energy guzzlers and significantly increased their carbon footprint.That said, it’s important to be aware that “glass is not the enemy,” points out Heena Bhargava, Architect, Architecture Discipline. “How it is used ma..

Next Story
Real Estate

Tokenisation is definitely the future of real-estate projects in India

Nisus Finance is carving a distinctive space in India’s real-estate funding ecosystem through a sharp mix of structured finance, asset management and transaction advisory. In an exclusive conversation with CW, Amit Goenka, Chairman and Founder, shares insights into the company’s unique approach to urban infrastructure finance. He discusses how Nisus Finance is not only expanding within India but also venturing into emerging markets, offering tailor-made solutions for urban development projects.How would you define your core business model and what differentiates you in this space..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?