SG 4 billion investment in India state Andhra P gone after local govt lost election
#1
SG govt 4 billion investment in India state Andhra Pradesh gone after local govt lost election

SG High Commissioner seeks mercy from new Indian state govt after SG plonks $4B into state - The Online Citizen

The project is a joint development between the Singapore Consortium led by Temasek-linked Ascendas-Singbridge and Sembcorp Development, and Amaravati Development Corporation Limited, a company set up by the previous Andhra Pradesh state government.

Andhra Pradesh was earlier governed by the Telugu Desam Party (TDP) which was aligned with PM Modi’s Bharatiya Janata Party (BJP). However, at the recent India’s general election in May, the ruling TDP lost the Andhra Pradesh Legislative Assembly election. The YSR Congress Party led by Y.S. Jagan Mohan Reddy swept the elections with a majority of 151 out of 175 Assembly seats, propelling Reddy to become the new Chief Minister of Andhra Pradesh, defeating Mr Naidu of TDP.

Unfortunately, the new Chief Minister Reddy is not a keen supporter of the Amaravati capital city joint venture project and has even publicly announced that the project is “not a priority” for him. The new state government is reviewing all ongoing works and cutting finances, triggering uncertainty over the future of the state capital project which Temasek-linked entities Ascendas-Singbridge and Sembcorp Development have invested in.

Work on the capital city, which has been running behind schedule, has come to a standstill. Chief Minister Reddy has set up a team of technical experts to review every aspect of the project, following allegations that the previous Chief Minister was involved in corruption over the way land was acquired, as well as other improprieties including insider trading. People linked to the previous Chief Minister were said to have allegedly bought land with the knowledge of where the capital city was going to be located before any formal announcements were made.

To underscore Reddy’s disdain for the project, it was reported that his new state government has even gone ahead to cancel flight arrangements connecting Amaravati’s Vijaywada Airport and Singapore’s Changi Airport, an agreement signed by the previous state government with Singapore. Not surprisingly, the TDP has labelled the present state government’s move to undermine the capital city project a political vendetta.

Singapore sends High Commissioner to talk to new Chief Minister Reddy

On Friday (9 Aug), it was reported in Indian media that Singapore High Commissioner to India Lim Thuan Kuan went to meet Chief Minister Reddy on the sidelines of the Diplomatic Outreach programme. Lim was accompanied by officials from Singapore’s Ministry of Trade and Industry.

Lim told Chief Minister Reddy that Singapore is ready to invest more in thermal, solar, aerospace and related fields, apparently in an attempt to appease the new Chief Minister.

Lim also informed the Chief Minister about the present collaboration Singapore already has with the state of Andhra Pradesh, in areas such as urban planning and development, waste and water management, power, building and construction, public healthcare, and public libraries, under a Memorandum of Understanding, which was endorsed by the Government of India.

Officials and experts from the State and Singapore have worked closely to develop priority economic sectors of aquaculture, construction and urban solutions, logistics and connectivity, tourism, and Smart City Projects, Lim noted.

The High Commissioner also reminded the Chief Minister that investments by Singapore companies in the state now exceed Rs20,000 crore (S$4 billion) creating a substantial number of jobs across the state. Singapore has also actively promoted Andhra Pradesh as a promising investment destination to Singapore and international companies at various international platforms, Lim recalled.

However, the Chief Minister explained to the Singapore delegation that the challenges and steps his administration was taking are to improve literacy in the State, and to collaborate with industries to improve the skill levels of workforce in Andhra Pradesh. The meeting ended with the usual pleasantry that both sides would agree to continue exploring further opportunities for mutual benefits.

“Rather striking was the omission of Amaravati in the statements of both the sides”, observed the Indian media, New Indian Express.

It looks like to appease the new Chief Minister Reddy further, Singapore might end up “investing” money into the state’s education too. Whatever it is, Chief Minister Reddy now could compel Singapore investing anything he fancies for his state by using the trump card Amaravati capital city project on his hand.
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#2
It is only in Jan 2019 when Spore multibillion investment in state of Andhra Pradesh was reported with much fanfare..Never learn from Suzhou fiasco

JAN 10, 2019, 11:18 PM
Nirmala Ganapathy
India Bureau Chief

NEW DELHI - Singapore and the southern state of Andhra Pradesh have taken the first steps towards developing the commercial core of the upcoming capital city of Amaravati.
The ignition switch was flicked on Thursday (Jan 10) when Minister-in-charge of Trade Relations S Iswaran and Andhra Pradesh Chief Minister Chandrababu Naidu unveiled a commemorative plaque as part of the ground-breaking ceremony for the setting up of the Welcome Gallery.
Singaporean firms Ascendas-Singbridge and Sembcorp Development are the master developers for the 6.84 sq km stretch of the planned city. The firms are working with the Amaravati Development Corporation, an Andhra Pradesh government agency.

The gallery will be the first structure to be built in this central zone, which is also known as the start-up area.
It will be erected across 2.6ha and will be able to accommodate 2,000 to 3,000 visitors a day with features such as a city gallery, exhibition and community zones and co-working spaces for start-ups, said Amaravati Development Partners, an Indian company formed by the Singaporean firms and ADC.
The progress on Amaravati was part of discussions during the 4th Joint Implementation Steering Committee Meeting chaired by Mr Iswaran, who is also Minister for Communications and Information, and Mr Naidu on Thursday.

Andhra Pradesh is building the city from scratch across agriculture land in the Guntur Vijayawada region because it lost its capital city Hyderabad to the new state of Telangana.
Singapore has been involved in the project since 2014 with Surbana Jurong submitting the city's masterplan in 2015. In 2017, a consortium of Ascendas-Singbridge and Sembcorp Development was announced as the master developers.
Apart from Amaravati, efforts are also underway to deepen economic links.
Mr Iswaran and Mr Naidu noted plans by the AP-Singapore Business Council, anchored by the Singapore Business Federation (SBF) and the Confederation of Indian Industry (CII), to facilitate more partnerships in Andhra Pradesh between Indian and Singapore companies, said a Ministry of Trade and Industry (MTI) statement.
It added that the "SBF has launched 'The Sunrise Programme', a dedicated platform for Singapore companies to secure projects within Andhra Pradesh".
The three-year programme, which aims to reach out to 1,200 companies, is supported by Enterprise Singapore through its Local Enterprise and Association Development Programme, said the MTI.
The SBF said it plans to organise both outbound and inbound missions so companies from both sides can get insights into their destination markets.
It noted that the Sunrise Programme "sets in motion bilateral trade activities and establishes institutions of commerce between Singapore and the Indian state of Andhra Pradesh".
Seven Singaporean firms exchanged Memoranda of Understanding and Letters of Intent with Amaravati Development Partners to incorporate their technologies into the Welcome Gallery.
Separately three MOUs were signed between three Singaporean firms - Erect Group, CKR Group of Companies, and ByBiTech - and the Andhra Pradesh Real Estate Regulatory Authority (APRERA) and the AP Economic Cities Promotion and Development Corporation (APEDCO) to bring Singapore technologies and solutions to “Amaravati Construction City”, MTI said.
They are investing in the Amaravati Construction City, a one-stop location providing construction technologies, building materials and leasing of construction equipment, said the MTI.
"Amaravati fits right for us... we are pleased to join hands with the AP (Andhra Pradesh) government," said Mr Karthik V, operations director at ByBiTech, a professional building information modeling solutions company.
The two ministers "also commended the progress in skills development, such as the establishment of Singapore SynchroSkills, a joint venture between two Singapore and Indian companies". This has trained 300 students in bridal fashion and apparel, among other skills.
Mr Iswaran also visited the inaugural "We Draw Amaravati Together" exhibition by Urban Sketchers Singapore in India.
The exhibition, organised by Urban Sketchers Singapore, features more than 90 artworks capturing the heritage and culture of 29 villages in Amaravati, said the MTI.
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#3
Even world bank is pulling 300 million (10% of what Spore govt has invested) out of Amaravati capital city project after rampant corruption recently (last month)


World Bank withdrew from Amaravati due to corruption, claim AP govt officials
Updated: 22 Jul 2019, 05:31 PM ISTYunus Y. Lasania
The then TDP government had invited tenders for infrastructure development even before the World Bank loan details were finalized, said an official with the state government, requesting anonymity
According to the official, the team found numerous irregularities

World BankAmaravati Project
Hyderabad: Days after the World Bank (WB) announced backing out of Amaravati capital city project, by withdrawing its $300 million funding, officials from the Andhra Pradesh government said rampant corruption besides flouting of various socio-economic norms under the previous Telugu Desam Party (TDP) government, led by former chief minister N. Chandrababu Naidu, were the reasons behind the agency’s move," claimed officials from the AP government.
The then TDP government had invited tenders for infrastructure development even before the World Bank loan details were finalized, said an official with the state government, requesting anonymity.
Other government officials, who also did not want to be quoted, said a World Bank team that toured the proposed region marked for development from 13-17 September, 2017, found irregularities in the tender process and also that it favoured contractors.
According to the official, the team found numerous irregularities in land pooling, utilisation of verdant agriculture land for other purposes, serious environmental violations and in the plan of the new proposed capital as it affected the course of the Krishna River, among other issues.

The CRDA (Capital Region Development Authority) was asked for an explanation after the team finished its tour of the region.
The Centre has reportedly expressed dismay over the World Bank Team inspections even before the loan was finalized, said the official.
The World Bank, in a press release, however, said that the government on 15 July withdrew its request to the World Bank to finance the proposed 'Amaravati Sustainable Infrastructure and Institutional Development Project', due to which it backed out. "The World Bank's board of executive directors has been informed that the proposed project is no longer under preparation following the government’s decision. The World Bank continues to support the state of Andhra Pradesh with (an) over $1 billion programme that covers the health, agriculture, energy and disaster management sectors. This includes a new $328-million support to the state’s health sector signed with the Government of Andhra Pradesh on June 27, 2019," it added.

This is the first time since last week, when news broke out about World Bank withdrawing the funding, that state government officials have commented on the development. “An elaborate response is being prepared by the government to debate in the ongoing assembly session," the official informed.
After its inspection, the team had submitted its report on 27 September and amended it on 27 November in 2017, following which a final report was filed on 29 March this year, said the official.
The team had to take up investigations following a spate of complaints from social organisations and voluntary organisations.
After the bifurcation of Andhra into Telangana in 2014, the then chief minister Chandrababu Naidu decided to shift out of the joint capital, Hyderabad, and construct the new capital for Andhra Pradesh in Amaravati. Situated between Guntur and Vijayawada, a total of 33,000 acres of farmland was acquired for the project. But the government faced resistance from farmers in a few villages in the capital region who are till date opposing the land acquisition for the project.

The official, however, said the World Bank was not averse to extending the same loan to the current Andhra government, should it mention its priorities. “The World Bank has given enough indications pointing at compensating the dropped $300 million loan for capital city to other sectors and there is every possibility of an increase in the quantum of aid," he added.
A TDP leader, who did not want to be quoted, however, said unless and until an urban capital is there in a state, it will not prosper. “Will social organisations who complained, help in building a new capital or help in creating jobs as an alternative? Nobody will come to the state if we don’t have a new capital" he said, rubbishing corruption allegations against the TDP.
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#4
$4B is just peanuts for PAP.

Just make DFs pay can liao. Rolling on the flor laughing
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#5
God save Temasek

Parking everything aside, The newly elected govt is asking Singapore govt for more..

They are going after Singaporeans blood
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#6
Itch b.side

Nothing better to do is it?
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#7
Haha . Kena f#%k by Indian
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#8
SG need to change, u guys better vote wisely
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#9
Shockingly awakened, Temask discovered sleeping with a King Cobra

Who's the smarter of the 2?
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#10
15-8-2019 11:30 AM
hotguy8888 said:
SG need to change, u guys better vote wisely

Now, Indians are saying Singaporeans are stupid..

Previously, those Chinese @ Suzhou were saying Singapore Govt was stupid..

Singapore IQ ranked No. 1
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