AndhraNews.net
The Andhra Pradesh State Road Transport Corporation (APSRTC) entered into a memorandum of agreement (MoA) with Urban Mass Transit Company Limited (UMTC), New Delhi to upgrade the bus terminals, providing better commuter facilities and to commercially exploiting the vacant land. UMTC is a joint venture company of Union Ministry of Urban Development, Government of Andhra Pradesh and Infrastructure Leasing and Financial Services.
The MoA was signed by UPTC Director Umesh Soni and APSRTC director (Vigilance and security) T Krishna Prasad in presence of APSRTC Managing Director V Dinesh Reddy.
Speaking to media, APSRTC executive director Nageswara Rao said that under the MoA, APSRTC and UMTC would undertake conceptualization of projects and award of projects in public private partnership (PPP) and also take steps for accessing funds from governmental and multilateral agencies. He further said that 140 properties of APSRTC in the State had been identified for commercial development and up gradation of amenities.
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