CRDA Approves 59 Tenders Worth Rs 377.02 Bn; Amaravati Work Soon

Initially, tenders were invited for 73 projects worth Rs 480.12 billion, as they had already received Cabinet clearance. Out of these, the CRDA has sanctioned 59 tenders. A Letter of Intent will soon be issued for the approved works. Of the total sanctioned projects, 22 fall within the CRDA limits, with an estimated cost of Rs 226.07 billion, while the remaining 37 projects, overseen by Amaravati Development Corporation, account for Rs 150.95 billion. The development work will involve over 20,000 workers.

Additionally, the CRDA has approved land allotment for 31 organizations and extended the deadline for 11 others to modify their allocated locations. The proposal for location changes for two organizations has also been accepted.

The overall development cost of Amaravati Capital City is projected at Rs 640 billion. To fund the construction, revenue generated from surplus land—either through mortgaging or sales—will be utilised, ensuring that taxpayer contributions are not diverted for capital development. From the land acquired from farmers, the CRDA holds an excess of 6,203 acre, with 1,900 acre designated for allocation to various organizations.

These strategic approvals and financial planning measures aim to accelerate Amaravati’s development while maintaining fiscal discipline.

News source: The New Indian Express