Andhra Pradesh government has proposed the Capital City Management Development Company (CCMDA) with five special purpose vehicles (SPV) which will take up a specific sector each and act as subsidiary companies of the CCMDA. The SPVs will be for roads, power and water supply, buildings, fiber network and sewerage. These SPVs will work with concerned line departments.
Funds and loans received by entities like Road Transport Corporation, Transco, AP Genco will be transferred to these SPVs but will be managed by the respective line departments of the AP government.This kind of apex body with several SPVs is inspired from the Gujarat International Finance Tech (GIFT) City, a central business district in Gujarat.
CCMDA will take a month’s time to kick off and will have a staff of around 30 people with technical expertise. The principal secretary of the municipal and administration and urban development department (MAUD) will act as the executive chairman of CCMDA. With CCMDA in place, Capital Region Development Authority (CRDA) will become a regulatory body like RBI or SEBI.
