Chief Minister N Chandrababu Naidu and Singapore minister for Communications and Information S Iswaran will formally unveil the ceremonial plaque in Lingayapalem at 9.30 am. The Amaravati development partners, which consists of the Singapore Consortium — Ascendas Singbridge and Sembcorp Development — and the Amaravati Development Corporation Ltd (ADCL), will develop a 40,000 sqft gallery with an estimated cost of Rs 47 crore as part of the catalytic development of the Start-up Area. The Singapore Consortium holds 58 per cent stake in ADP.
The Start-up Area is expected to kick-start the economic activity in the capital and the ADP will develop a total of 1,691 acres in the capital in three phases over 15 years. The officials of ADCL, which holds the remaining 42 per cent stake in ADP, said the Welcome Gallery would be a venue that would showcase the capital city of Amaravati to the world and a place that fosters new collaborations from across the globe.
“The Gallery will host community and business events, education summits and exhibitions. It will also let the world know of the making of Amaravati,” the officials explained.
It may be noted that the Singapore Consortium entered into a pact with the State government in July last year. While minister S Iswaran announced that the development would immediately begin, it took six months for the next step of the development to be taken. Meanwhile, meeting of the fourth Joint Implementation Steering Committee, formed for the development of Amaravati by the State and Singapore representatives, is also to be held on Thursday. The deliberations will be held between CM Naidu and S Iswaran.