The Andhra Pradesh government has approved the formation of a special purpose vehicle (SPV) under the Companies Act to oversee development, implementation, operation, and management of key projects in the Amaravati capital region.

The SPV will operate alongside the AP Capital Region Development Authority (APCRDA) and Amaravati Development Corporation. Special projects include a greenfield airport, the NTR statue, an iconic bridge, Sports City, riverfront development, a ropeway, and the Inner Ring Road. These projects primarily fall under the second phase of the capital city’s development as part of the Land Pooling Scheme 2.0.

The SPV will have an initial authorized capital of Rs 10 crore and paid-up share capital of Rs one crore, with the Andhra Pradesh government holding 99.99 percent equity. The Board will include Principal Secretaries from key departments and the APCRDA Commissioner, ensuring focused governance for Amaravati’s growth.