State FM defends move to cancel Amaravati project with Singapore consortium

The Andhra Pradesh government defended its move to close down the 'Start-up Area Project' within Amaravati.
In a statement, state FM Buggana Rajendernath said that it was not found feasible to take up such a huge project, so the decision was made in the best interest of the state.
He added, "During deliberations, it was realized that it requires about Rs 2 lakh crore to develop the entire capital area, which is the size of the state's annual budget."
This plan was supposed to be executed with Singapore Consortium, but for now, the agreement has been terminated.
A press release from the Singapore government's Ministry of Trade and Industry also stated that the decision was taken mutually.