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Amaravathi Vision Short Video From Amaravati Bonds 2018 | Chandrababu Naidu | AP News | alo Tv

423 views · Published 27 August 2018 · 5:23 · Indexed 30 October 2026

Channel: Alo TV Channel · 2018 · News & Politics

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Chandrababu Naidu Live from Amaravati Bonds 2018

Chandrababu Speech Highlights In Amaravati Bonds :

To raise funds to build Andhra Pradesh’s capital Amaravati, the state government has tapped the capital markets with the listing of bonds issued by AP Capital Region Development Authority APCRDA for Rs 2,000 crore on Monday.

The bonds titled ‘Amaravati Bond 2018’ have been listed on the Bombay Stock Exchange, attended by CM Chandrababu Naidu. While the bonds were issued for Rs 1,300 crore, they were oversubscribed by 1.53 times, thus raising Rs 2,000 crore of funds. It is also being touted as the largest bonds issue in the country from a local authority.

In fact, riding on the back of the positive response, the CRDA is also planning to raise upto Rs 10,000 crore more through retail investors.

A bond is a fixed income investment where an entity borrows funds from investors for a fixed period of time at an interest rate, which can be fixed or variable. When an entity issues a bond, the funds raised through it is technically a loan that is repaid over time. Bonds are generally issued to fund projects and in this case, it is to fund the development of Amaravati.

The 10-year instrument is being offered at a fixed interest rate of 10.32%, paid quarterly, with a five-year moratorium on the principal payment. This will be redeemed at 20% every year for the next five years.

The funds are being raised for the development of the upcoming capital where projects worth nearly Rs 27,000 crore are underway and those worth Rs 11,000 crore are ready to be awarded. 

An amount of Rs 2000 crore will be used as an equity pool and the government will keep investing towards equity contributions for various infrastructure projects at Amaravati.

Speaking at the listing of the bonds at BSE in Mumbai, Naidu outlined his grand vision for the greenfield capital, claiming that he is confident of making Amaravati one of the best cities in the world. Through the capital, he envisions to take the economy of the state, which is currently at about $124 billion, to one trillion dollars by 2029.

“Our growth rate is consistently moving forward, and I am confident it will cross 12-13%. We will be among the top 3 developed states in India in 2022 and want to become a leading global destination by 2050,” Naidu said while addressing the gathering at BSE.


Amaravathi Vision:

he Government of AP plans to build 9 theme cities as part of its capital-building. Administrative City, Justice City, Medical City, Educational City, Entertainment City, Business City etc. This chain of small cities include both work-places and residential clusters. Already 59% of the total of 33,000 acres pooled from the local farmers were allocated to several private players to execute these theme projects. The Government has allocated lands for 8 international schools, 5 private universities, 5 star hotels and one mega medical hub. Already 2 universities have commenced classes after partially completing the construction. The work of others is in rapid progress. They have already completed constructing a modern sports’ stadium at Mangalagiri with international standards.

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