Hudco okays ₹11,000 cr loan to capital Amaravati

Update: 2025-01-23 12:48 IST
Hudco okays ₹11,000 cr loan to capital Amaravati
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Guntur : Housing and Urban Development Corporation Ltd board meeting held in Mumbai on Wednesday approved Rs 11,000 crore loan to the AP Capital Region Development Corporation Authority (CRDA) for construction of state capital Amaravati and houses for weaker sections under Township and Infrastructure Development Corporation (Tidco).

Minister for municipal administration and urban development P Narayana and municipal administration department officials several times met the Hudco chairman and managing director Sanjay Kulshreshtha in New Delhi and explained the proposals of the government to develop state capital Amaravati and requested sanction of loan. Sanjay Kulshreshtha agreed to sanction the loan. Now the loan processing procedure has been completed and loan has been sanctioned.

Announcing the sanction of loan by Hudco, minister Narayana expressed the hope that with Hudco’s decision, the work on the capital will be expedited.

World Bank, Asian Development Bank, Hudco and KFW Bank are ready to sanction Rs 31,000 crore loan for the construction of state capital Amaravati.

Taking this into consideration, AP State Capital Region Development Authority called tenders at a cost of Rs 20,000 crore for the development of state capital Amaravati so far..

APCRDA invited tenders for the construction of Happy Nest, decided to appoint project management consults for calling tenders for the construction of Integrated Secretariat, permanent Assembly buildings and High Court. CRDA is developing infrastructure like roads, drinking water, utility ducts, avenue plantation. Tenders were called for Neerukonda balance flood mitigation works.

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