Sembcorp & Ascendas-Singbridge formalise agreements to jointly develop Andhra Pradesh Start-up Area

-A +A

SINGAPORE (June 7):  Sembcorp and Ascendas-Singbridge’s joint venture (JV) vehicle Singapore Amaravati Investment Holdings (SAIH) has formalised its collaboration with the State Government of Andhra Pradesh (SGOAP) to jointly master develop the 684-hectare Amaravati Capital City Start-up Area in collaboration with Amaravati Development Corporation (ADC), an agency of the SGOAP.

This was accomplished via a concession and development agreement signed between SGOAP and Amaravati Development Partners (ADP), which was incorporated earlier in India with SAIH and ADC holding 58% and 42% interests in the company, respectively.

The agreement, which  grants ADP development rights, licences and required authorisations/concessions for the Start-up Area and to undertake catalytic developments, was signed today at the sidelines of...(click on link for full story on theedgesingapore.com)