Andhra Pradesh Chief Minister N. Chandrababu Naidu has said the over-subscription of Amaravati Bonds 2018 reflects the trust of people and investors in the Andhra Pradesh government.

The Chief Minister rang the bell at the Sir Dinshaw Petit International Convention hall of the Bombay Stock Exchange here at 9.15 a.m. on Monday to mark the listing of the bonds.

Addressing investors on the occasion, the Chief Minister said he had built up Hyderabad and now he wanted to build Amaravati as one of the top five best cities in the world. Stating that it was a rare opportunity to develop a capital, he said it would be developed as a greenfield city. He said the growth rate of Andhra Pradesh stood at 10.5 per cent in the past three years and it had gone up to 11.2 per cent currently.

Inviting investors, the Chief Minister said it was the right time to invest in AP, the number one state in ease of doing business. He said renewable energy, including solar and wind power, would be promoted in Amaravati to prevent pollution.

The Chief Minister invited the BSE to set up its innovation centre in Andhra Pradesh. He said nine cities would be developed in the Amravati capital area to international standards.

Referring to the overwhelming response to Amaravati Bonds, the Chief Minister appealed to investors to become active partners in the development of Amaravati and Andhra Pradesh. The state government mopped up Rs 2,000 crore through the bonds.

State Minister for Finance, Yanamala Ramakrishnudu, Minister for Urban Development, P Narayana, Capital Region Development Authority Commissioner Ch Sridhar, and other senior officials were present on the occasion.

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