Malaysian companies have evinced interest to invest Rs 6,000 crore to Rs 10,000 crore in Andhra Pradesh’s capital Amaravati over the next five years.
A Malaysian team, including Selangor State Minister Mr Papparayudu, Klang MP Mr V. Ganabatirau, representatives of the Malaysia-Andhra Business Chamber, and representatives of several private companies, recently held talks with Municipal Administration and Urban Development Minister Mr P. Narayana.
During their visit, the team went around Amaravati along with Minister Mr. P. Narayana and saw the progress of the work on various components of the state capital.
Speaking on the ocassion Minister Papparaidu said that they will work with AP for the development of Amaravati.
Representatives of several companies, especially those people of Telugu origin in Malaysia, explained their projects to Minister Narayana through a PowerPoint presentation.
The Malaysian companies have come forward to invest in projects relating mainly to key sectors of education, tourism, hospitality, trade and commerce, real estate (technology transfer, development, infrastructure development), and Telugu culture.
The University of Cyberjaya has also come forward to set up a medical university in Amaravati, while Berjaya Group has come forward to set up five-star hotels.
Minister Narayana said that Amaravati will be among the five top capitals in the world. He added that Amaravati is being built in a planned manner under the leadership of Chief Minister Mr Chandrababu Naidu.
He further informed the Malaysian team that tenders for works worth Rs 51,000 crore have already been completed, and works have also started. He also told them that construction work will be completed within the specified deadlines.
