HUDCO sanctions Rs.11,000 crore for construction of Amaravati greenfield capital city

This loan will contribute to the Rs 26,000 crore required for the first phase of Amaravati's development.

HUDCO sanctions Rs.11,000 crore for construction of Amaravati greenfield capital city
HUDCO sanctions Rs.11,000 crore for construction of Amaravati greenfield capital city

New Delhi: Navratna CPSE Housing and Urban Development Corporation Ltd (HUDCO), has pledged to provide a loan of Rs 11,000 crore for the construction of the Amaravati greenfield capital city in Andhra Pradesh, as announced by the state government on Monday.

Municipal Minister P Narayana met with HUDCO's Chief Executive Officer, Sanjay Kulshrestha, in Delhi, where he presented the state government's development plans for Amaravati. Following this meeting, HUDCO's CEO expressed satisfaction with the proposals and agreed to lend a substantial amount to the Andhra Pradesh Capital Region Development Authority (AP CRDA) for the city's construction.

 

Join PSU Connect on WhatsApp now for quick updates! Click here

Read Also : OPEC+ members expected to hike oil production in August 2025; Check details

This loan will contribute to the Rs 26,000 crore required for the first phase of Amaravati's development. The World Bank and the Asian Development Bank (ADB) have already committed Rs 15,000 crore, making HUDCO's loan a crucial addition to secure the total funding needed for the ambitious project.

Read Also : CBI Arrests Northern Railways Engineer and Trackman in 34000 Rupees Bribery Case

Disclaimer: All the articles and given information on this page are information based and provided by other sources . For more read Terms & Conditions