Amaravati Development Partners (ADP), a joint venture between the Andhra Pradesh government and a Singapore consortium, took the first step to develop an economic cluster here with the commencement of work on the Welcome Gallery on Thursday.
SAIH is a wholly-owned joint venture company of Ascendas-Singbridge Andhra Investment Holdings and Sembcorp Development India.
The commemorative plaque was unveiled by Chief Minister N. Chandrababu Naidu and Singaporean Minister for Communications and Information and Minister-in-Charge of Trade Relations, S. Iswaran.
The Welcome Gallery is coming up on 2.6 hectares of land. With a built-up area of 4,080 square metres, it can accommodate 2,000 to 3,000 visitors daily.
It will consist of exhibition, community and engagement zones as well as co-working spaces to house start-ups.
Besides serving as a one-stop information centre for all visitors, it will also be a focal point for companies to showcase their sustainable urban solutions concepts, as well as function as a business promotion platform, through the hosting of various national and international level events and exhibitions.
The Welcome Gallery forms part of the larger Catalytic Development Area and will play an integral role in generating economic activities in the region, which will spread across the entire Start-Up Area over time, said Sreedhar Cherukuri, Commissioner, Andhra Pradesh Capital Region Development Authority (APCRDA).
The 20-hectare Catalytic Development Area is developed as part of the Phase 1 of the Start-Up Area, and will comprise 75,000 sq m of office, residential and retail spaces.
The Start-Up Area has a total development land area of 6.84 sq.km, which will be developed in three phases over the next 20 years.
The ADP also announced that 15 companies and institutions from Germany, India, Japan and Singapore have entered into Memoranda of Understanding with it as partners in the areas of smart buildings; smart energy; smart environment; and smart collaborations.
"These companies and institutions are leaders in their respective fields, and we believe that they will add significant value to the development of the Welcome Gallery," said ADP Chairperson Nina Yang.
--IANS
ms/ksk/vm
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)