HUDCO Sanctions ₹11,000 Crore Loan for Amaravati Capital Construction

In a huge boost to Andhra Pradesh's infrastructure development, the Housing and Urban Development Corporation (HUDCO) has approved a ₹11,000 crore loan to the Capital Region Development Authority (CRDA) for developing greenfield capital city, Amaravati. The pact was inked on Sunday in the presence o...

In a huge boost to Andhra Pradesh's infrastructure development, the Housing and Urban Development Corporation (HUDCO) has approved a ₹11,000 crore loan to the Capital Region Development Authority (CRDA) for developing greenfield capital city, Amaravati. The pact was inked on Sunday in the presence of Chief Minister N Chandrababu Naidu at his Undavalli residence in Guntur district. The loan falls under a larger ₹26,000 crore plan to transform Amaravati into a world-class capital city. Municipal Minister P Narayana and HUDCO CMD Sanjay Kulshrestha also attended the signing. Approved earlier this year by HUDCO's board in Mumbai, the funding will facilitate crucial infrastructure works in the region. This financial backing marks a significant milestone in realizing Amaravati’s vision as a modern administrative and cultural hub. Source: Economic Times, Hindustan Times