Andhra Pradesh Chief Minister N Chandrababu Naidu last week laid the foundation stone for the head offices and branches of 15 public sector banks and insurance companies, and a Sri Venkateswara Swamy temple, and signed an MoU to set up a world-class planetarium — all of which will come up in Amaravati.
The buildings for the banks and insurance companies will pave the way for establishing a “finance city” within the state’s capital. Union Minister of Finance Nirmala Sitaraman participated in the foundation stone-laying function.
The master plan for developing Amaravati into a capital city includes nine theme cities within it. The themes are finance, knowledge, health, electronics, tourism, justice, media, sports, and government.
The banks and insurance companies that will start their branches in the “finance city” are State Bank of India, Union Bank of India, Punjab National Bank, Indian Bank, Canara Bank, Andhra Pradesh Grameena Bank, IDBI Bank, Indian Overseas Bank, Bank of India, Central Bank of India, Bank of Baroda, Andhra Pradesh State Cooperative Bank Limited (APCOB), NABARD, LICNew India Assurance.
Andhra Pradesh Capital Region Development Authority (APCRDA) officials said that the 15 public sector banks and insurance companies would come up at a cost of Rs 1,334 crore, and provide employment opportunities to more than 6,500 people. Setting up a bankers’ tower is also in the offing.
Officials said that the proposed “electronics city” would now include a “quantum valley” and an artificial intelligence hub.
On Thursday, Naidu laid the foundation stone for the Sri Venkateswara Swamy temple at Venkatapalem in Amaravati. It will be built in two phases at a cost of Rs 260 crore on the lines of the famous temple at Tirupati’s Tirumala within a period of two-and-a-half years, Minister for Endowments Anam Ramnarayana Reddy said.
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The APCRDA has also signed an MoU with the Indian Institute of Astrophysics to set up a planetarium in Amaravati. “This state-of-the-art facility will bring the wonders of space closer to our students, offering an immersive and visual journey through our universe, its planets, stars, and distant galaxies. The planetarium will drive scientific curiosity, encouraging young minds to dream big and explore new frontiers in astronomy,” Naidu said in a statement.
The APCRDA has allotted five acres to set up the planetarium at a cost of approximately Rs 150 crore through the Department of Science and Technology, Government of India. The ‘COSMOS-2’ planetarium will feature a state-of-the-art LED dome theatre, research facilities, and public exhibits to provide immersive training in astronomy, astrophysics, and space sciences for students and professionals. This initiative will enhance the research and development ecosystem in Amaravati, building on the IIA’s legacy with facilities like COSMOS-1 in Mysuru and promoting scientific outreach across Andhra Pradesh, an official of APCRDA said.
Focus on sport
Recently, the foundation stone for the MSK Prasad International Cricket Academy was also laid in Amaravati. The academy will be developed across 12 acres. The academy and the integrated sports complex will become part of the “sports city”. The indoor training academy, with advanced nets and athlete performance analysis systems, has a capacity for 400 trainees. It includes a residential school offering both academics and sports training for up to 1,000 students, accommodation and hostel facilities for players and visiting teams, a mini cricket stadium for hosting local tournaments, gyms, physiotherapy, and rehabilitation centres, indoor and outdoor training zones equipped with advanced fitness and conditioning facilities, and an Olympic-standard swimming pool.
In the last few weeks, projects worth nearly Rs 56,000 crore have been launched in Amaravati, including the Seed Access Road, seven national highway linkages, and a new railway corridor connecting the capital region. The new railway track from Namburu near Guntur to Errupalem (Yerrupalem) in Khammam district of Telangana on the Kazipet-Vijayawada railway section will connect Amravati to Hyderabad, Bengaluru, Chennaiand Kolkata. The new railway track includes a 3.2-km bridge across the river Krishna.
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The APCRDA has allotted 1,500 acres to the Indian Railways to build a large railway station for Amaravati. “It will be expanded in phases to have 24 platforms with all kinds of amenities for passengers and may become the country’s largest railway station in the future,” an official said.
