Malaysian firms likely to invest ₹10K-cr into Amaravati’s development over 5 yrs
Malaysian firms plan to invest ₹10,000 crore in Amaravati over five years, focusing on education, tourism, and infrastructure, says APCRDA.
Malaysian companies have evinced interest in investing around ₹10,000 crore in various projects in Amaravati over a period of next five years, the Andhra Pradesh Capital Region Development Authority (APCRDA) said on Saturday.
A delegation of Malaysian investors arrived at Amaravati and went round the capital region to get a first-hand experience of the developmental works being undertaken in the capital city, said an APCRDA release.
The delegation comprising Selangor state exco minister Papparayudu, member of Malayasia parliament Ganapathi Rao, representatives of the Malaysia–Andhra Business Chamber, and others, met Andhra Pradesh state municipal administration and urban development P Narayana at the state secretariat.
An official statement from the APCRDA said the Malaysian delegation conveyed that they are prepared to invest around ₹ 10,000 crores over the next five years in Amaravati, particularly in education, tourism and hospitality, trade and commerce and real estate sectors.
The delegation also promised technology transfer and development of infrastructure, besides evincing interest in projects related to Telugu culture and traditions.
“University of Cyberjaya (UoC) from Malaysia has proposed to set up a Medical University in Amaravati, while the Berjaya Group has come forward with plans to establish five-star hotels,” the statement said.
Narayana briefed the delegation on the progress of Amaravati’s construction works. He stated that Amaravati was being developed with a vision of one of the top five capital cities in the world.
