GG News Bureau
Amaravati, 22nd Oct. Housing and Urban Development Corporation Ltd (HUDCO), a Navaratna central public sector enterprise, has pledged ₹11,000 crore for the construction of the Amaravati greenfield capital city in Andhra Pradesh, as announced by the state government.
During a meeting in Delhi on Monday, Municipal Minister P Narayana briefed HUDCO Chief Executive Sanjay Kulshrestha about the Andhra Pradesh government’s plans for Amaravati’s development. Following this discussion, the HUDCO CEO expressed satisfaction with the proposals and confirmed the loan for the Andhra Pradesh Capital Region Development Authority (AP CRDA) to facilitate the construction.
The total estimated cost for Amaravati Phase-1 is ₹26,000 crore. With the World Bank and Asian Development Bank (ADB) already committed to lending ₹15,000 crore, HUDCO’s recent commitment ensures that the necessary funding for the project is fully secured.
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