**Malaysian Companies Show Interest to Invest Rs 6,000–10,000 Crore in Amaravati Over Five Years**
*Amaravati:* Malaysian companies have expressed keen interest to invest between Rs 6,000 crore and Rs 10,000 crore in the Andhra Pradesh capital, Amaravati, over the next five years.
A delegation from Malaysia, including Selangor State Minister Papparaidu Veraman, Klang MP V. Ganabatirau, representatives from the Malaysia-Andhra Business Chamber, and executives from several private companies, held discussions with Municipal Administration and Urban Development Minister P. Narayana on Friday.
The Malaysian team, which has been visiting Andhra Pradesh since October 1, toured Amaravati alongside Minister Narayana and reviewed the progress of various development projects in the state capital.
Minister Papparaidu Veraman stated that Malaysia intends to collaborate closely with India for the development of Amaravati. Representatives of several companies, many of whom are of Telugu origin residing in Malaysia, presented their investment proposals through a detailed PowerPoint presentation.
According to an official statement, Malaysian investments are expected to focus on key sectors including education, tourism, hospitality, trade and commerce, real estate (with an emphasis on technology transfer, development, and infrastructure), and the promotion of Telugu culture.
Notably, the University of Cyberjaya has proposed setting up a medical university in Amaravati, while the Berjaya Group is planning to establish five-star hotels in the city.
Minister Narayana updated the Malaysian delegation on the ongoing development activities in Amaravati and expressed his ambition for Amaravati to rank among the top five planned capital cities worldwide. He emphasized that the city is being built systematically under the leadership of Chief Minister Chandrababu Naidu.
The minister highlighted that tenders worth Rs 51,000 crore have been completed and construction work has already commenced. He assured that all projects will be completed within stipulated deadlines.
Narayana outlined the government’s development targets, which include completing 360 km of trunk roads within 18 months, 1,500 km of layout roads within two years, and constructing 4,000 houses for officials, employees, and public representatives by the end of March next year.
Additionally, work on key administrative buildings such as the Secretariat Towers, Assembly, and High Court buildings is underway, with an expected completion timeline of two and a half years.
He also mentioned that recent rainfalls over the last three months had caused some delays but assured the delegation that construction activities would accelerate moving forward.
The meeting was also attended by Municipal Department Principal Secretary Suresh Kumar, Capital Region Development Authority (CRDA) Commissioner Kannababu, and CRDA Additional Commissioner Bhargava Teja.
*Disclaimer: This story is sourced from a syndicated feed. No changes have been made except for the headline.*
https://www.freepressjournal.in/business/malaysian-companies-to-invest-10000-crore-in-andhra-pradeshs-capital-amaravati-boosting-tourism-trade-real-estate-sectors
