MoU for development of Amaravati start-up area

MoU for development of Amaravati start-up area

Question: The proposed capital city of Andhra Pradesh, Amaravati, is located at the bank of …
(a) Krishna River
(b) Godavari River
(c) Nagavali River
(d) Tungabhadra River
Ans: (a)
Related Fact :

  • On May 15, 2017, Andhra Pradesh government signed a MoU with the government of Singapore for development of the Amaravati start-up area.
  • The start-up area will be developed by Amaravati Development Partners (ADP) which is a joint venture of the Singapore consortium consisting of Ascendas-Singbridge and Sembcorp Private Limited and the Amaravati Development Corporation (ADC).
  • The Singapore consortium will have 58 % equity participation in ADP (the master developer) while the ADC comes in with a 42% equity share.
  • The start-up area, spread in 6.84 sq. km on the southern banks of River Krishna, will be developed in three phases over 15 years: 656 acres in Phase-I, 514 acres in Phase-II and 521 acres in the last.
  • The MoU is a part of the broader understanding between the government of Andhra Pradesh and government of Singapore for capacity-building, sharing best practices in public administration, strengthening business and cultural links and cooperation in the field of science and technology.
  • Amaravati is the proposed capital city of the Indian state of Andhra Pradesh. The planned city is located on the southern banks of the Krishna River in Guntur district of Andhra Pradesh. The foundation stone was laid on 22 October 2015, by Prime Minister, Narendra Modi.

Reference:
http://indiatoday.intoday.in/story/ap-singapore-in-pact-for-developing-amaravati-startup-area/1/954669.html
http://www.thehindu.com/todays-paper/ap-singapore-sign-pact-for-amaravati-development/article18462091.ece