Andhra Pradesh for Swiss Challenge method to choose developer for capital
The government had recently named the proposed state capital as Amaravati
Hyderabad: The Andhra Pradesh government on Monday said it would adopt "Swiss Challenge" method for the selection of master developer for its proposed state capital area.
"The procedure for the Swiss Challenge will be as prescribed in the AP Infrastructure Development Enabling Act, 2001," said a press release issued by the state government.
The government will be receiving proposal from competent and experienced developers in municipal administration and urban development, it added.
The infrastructure authority, chaired by Chief Secretary, will carry out the due diligence before the proposal is appraised and put it up for challenge, it added.
The government had recently named the proposed state capital as Amaravati.
Under the Swiss Challenge, a developer will be asked to presents a bid. Then, other prospective developers would be asked to present counter bids. If the latter is lower, the first bidder will be asked to submit another bid again.
If the first bidder comes up with lower bid, then he gets the right or if he fails, the one with lower bid gets the project.