$10 Cr. SPV to Fast-Track Amaravati's Transformation.

The Andhra Pradesh government has approved the creation of a Special Purpose Vehicle (SPV) under the Companies Act to spearhead the development, implementation, operation, and management of critical infrastructure projects in the Amaravati capital region.

Functioning in coordination with the AP Capital Region Development Authority (APCRDA) and Amaravati Development Corporation, the SPV will focus on high-impact projects under Phase II of Amaravati’s development, as part of the Land Pooling Scheme 2.0. Key initiatives include a greenfield airport, NTR statue, iconic bridge, Sports City, riverfront development, ropeway, and the Inner Ring Road.

The SPV will be launched with an authorized capital of ₹10 crore and an initial paid-up capital of ₹1 crore, with the Andhra Pradesh government holding 99.99% equity. Its Board of Directors will comprise Principal Secretaries from relevant departments and the APCRDA Commissioner, ensuring streamlined and accountable governance for Amaravati’s growth and transformation.

News by Rahul Yelligetti.