During a conference on Monday, Chief Minister, Jagan Mohan Reddy announced that Andhra Pradesh Industrial Infrastructure Corporation (APIIC) and the National Buildings and Construction Corporation Limited (NBCC) will work together on erecting a residential complex and commercial plaza in Vizag.
After the lease agreement drawn between the Andhra Pradesh state government (then ruled by Telugu Desam Party) and Lulu group on the 13.59-acre land facing the sea along the Beach Road in Vizag was cancelled in 2019, with Mr Reddy citing the reasons being non-transparent bidding and violation of environmental norms, the Government has come up with the said plan which is expected to add glory to the City of Destiny. The proposal put forth by the NBCC and APIIC for the construction of the commercial plaza and residential complex in Vizag, reportedly states that the project will fetch the government Rs 1,450 crore.
It may be recalled that, earlier in 2018, the land in the discussion was leased to the Lulu Group signed by the state government for developing the famous Lulu mall in Vizag, accomodating more than 200 national and international brands along with a 5-star hotel and multiplex cinema theatres. With the foundation stone laid by Vice-President, Venkaiah Naidu, it was a much-awaited project, with a Rs 2000 crore investment plan. After the broken lease, the Lulu group also announced that they will not be investing in projects in the state.
The discussion on Monday also included completing previously unfinished projects, like the govt. Housing, Bungalows of judges, and other high ranking officials in Amaravati. The AP Chief Minister directed the officials to complete the pending work in a phased manner. In addition, Mr Reddy announced the expansion of the Karakatta road to a 6-lane road which assumably would prove crucial for Amaravati’s development.
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