A consortium of Nagarjuna Construction
Co and NCC Infra Holdings has been awarded the Rs.1,000 crore project for
development of Andhra Pradesh international centre at AP Bhawan in New Delhi.
The Andhra Pradesh Cabinet approved the proposal for development of the proposed
centre, which will include a guest house with five-star facilities, club house
and residential quarters.
The developer has agreed to pay the
state government 12.35 per cent on its annual gross revenue of the project
during the licence period (30 years from commencement of commercial operations).
In addition, the developer will also pay an annual minimum guaranteed amount of
Rs.45 crore during the first 10 years from commencement of commercial
operations, Rs.60 crore during the next 10 years and Rs.75 crore in the last 10
years.
The Cabinet also approved a proposal
to allot 3,333 acre in Srikakulum district for setting up a
2,600 MW thermal power project to East Coast Energy Co. The allotment is
part of 16,249.88 acre approved by the Cabinet for four major infrastructure
projects in the state. The land for East Coast will cover five villages -
Kakarapalli, Akashalakavaram, Kotapadu, Pothinayudupeta and Vaditandra.
The Cabinet approved allotment of
972.69 acre at Sompet in Srikakulam District, Andhra Pradesh, for a 1,980 MW
thermal power project to be set up by Nagarjuna Construction Co. Approval was
also given for allotment of 6,493.19 acre spread across 14 villages at Rs.1.52
lakhs an acre for the
Vanpic port project in Prakasam district (Vadarevu Sea Port) and for 5,451
acres spread across seven villages in Guntur District (Nizampatnam Sea Port).