Visakhapatnam will be developed into one of the finest smart cities in the country with the assistance of the US Government and it will give US companies great opportunities to participate in the project, according to AP Chief Minister N. Chandrababu Naidu.

He was speaking here on Friday after a memorandum of understanding was signed between the US Trade and Development Agency (USTDA) and the State Government on developing Visakhapatnam as a smart city. "It is a unique opportunity for the state to work along with US companies," the Chief Minister said.

The US Trade and Development Agency signed a memorandum of understanding with the Department of Municipal Administration on funding for drawing up master plan for Visakhapatnam Smart City and a consortium of three US companies, comprising AECOM, KPMG and IBM, was given the task by the Government. Taking it forward from the conceptual stage to implementation stage, the Chief Minister said there would be set milestones and timelines and periodic evaluation of outcomes of the project.

The MoU was signed by Principal Secretary (Municipal Administration) Karikal Velavan and Country Manager of USTDA Heather K Lanigan in the presence of Chief Minister and Director of USTDA Leocadia I Zak.

US Ambassador to India Richard R Verma, Municipal Administration Minister P Narayana, Panchayati Raj Minister Ch Ayyanna Patrudu, HRD Minister Ganta Srinivasa Rao, Chief Secretary SP Tucker, Commissioner GVMC Pravin Kumar, MLAs, MLCs and a number of senior officials were present on the occasion.

Chief Secretary S.P Tucker explained in detail the investment opportunities in different sectors in the State.

sarma.rs@thehindu.co.in