The Center government has released Rs 4285 crore for Amaravati development. The World Bank and ADB have released 25 per cent of the funds promised, so far.
The Center added its share of Rs 750 crore and released Rs 4285 crore. As the Amaravati development is almost about to begin, the CRDA requested for release of funds.
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Accordingly, Center released the funds. The present amount has been disbursed for the Phase 1 development of Amaravati Capital Development Project.
The World Bank and Asian Development Bank together committed to USD 1600 million, USD 800 each for Phase 1 development of Amaravati. The Center government will be giving Rs 1400 crore out of Rs 15,000 crore committed by the Center for Phase 1 development.
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To mark recommencement of Amaravati works, the CRDA is all set to get Prime Minister Modi to break ground. The tenders are already in the process of being finalised.
The Center has given what is termed as the 'mobilization advance'. The first phase is planned to be completed in 30 months. During the first phase, residences for ministers, MLAs will be completed and roads and other infrastructure works will be taken up.
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In the latter phases, development of Metro, connecting Amaravati to the airport will be taken up. The target is to make Amaravati the finest among World top 5 capital cities in the world. Every development activity taken up in the Capital will help economic development in all districts.