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NRIPage | Articles | HUDCO Commits ₹11,000 Crore for Amaravati Greenfield Capital City Development | Get Health & Wellness Tips. Find tips on fitness, mental health, nutrition, and self-care - NRI Page
Housing and Urban Development Corp. Ltd. (HUDCO), a navaratna central public sector enterprise, has committed to providing ₹11,000 crore for the construction of Amaravati, the greenfield capital city of Andhra Pradesh. This announcement was made by the state government on Monday following a meeting between Municipal Minister P Narayana and HUDCO CEO Sanjay Kulshrestha in Delhi.
During the meeting, Minister Narayana presented the state government's comprehensive plans for the development of Amaravati. Pleased with the proposals, the HUDCO CEO agreed to extend the loan to the Andhra Pradesh Capital Region Development Authority (AP CRDA).
This ₹11,000 crore loan is part of a larger financial strategy to fund Amaravati's development, with a total requirement of ₹26,000 crore for Phase 1 of the construction. The World Bank and the Asian Development Bank have already pledged ₹15,000 crore, making the new loan from HUDCO a crucial step in ensuring the project's financial viability.
The collaboration marks a significant advancement in the development of Amaravati, which aims to establish a modern and sustainable urban environment in Andhra Pradesh, highlighting the state's commitment to its capital city project.
