Cabinet approves APMDC proposal to raise ₹9,000 crore through debentures

Andhra Pradesh State Cabinet approves various proposals including raising funds, establishing health centre, tourism policy, and land allocations.

The Andhra Pradesh State Cabinet, at its meeting chaired by Chief Minister N. Chandrababu Naidu, on Friday approved the Andhra Pradesh Mineral Development Corporation’s (APMDC) proposal to raise ₹9,000 crore through issuance of senior, secured, rated, listed, redeemable, and taxable non-convertible debentures.

According to sources, the Cabinet approved the proposal to establish a ‘Digital Health Nerve Center’ in Kuppam constituency in Chittoor district with an outlay of ₹5.34 crore.

The proposal for creation of 372 Civil Assistant Surgeon (PG Lean) posts in the Central Pool was also cleared. In-service postgraduate doctors would receive corresponding salaries, as part of this initiative.

The Cabinet also approved the Andhra Pradesh Tourism Land Allocation Policy 2024-2029. The policy aimed at developing world-class tourism centers in the Public-Private Partnership (PPP) mode.

Also, a proposal for allocation of 116.974 acres for developing the Havelock Bridge on the Godavari in Rajamahendravaram was cleared. The land would be given to the Andhra Pradesh Tourism Development Corporation.

A proposal to allocate 66.12 acres of land at Thammavaram village of Kakinada Rural mandal in Kakinada district to the Andhra Pradesh Tourism Development Corporation for development of a tourism centre was also approved.

The Cabinet also gave its nod to transfer 27.26 acres of government land at Panukavalasa village of Seethampeta mandal in Parvathipuram-Manyam district free of cost to the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) for establishment of an MSME Park.