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

The Housing and Urban Development Corporation Ltd (HUDCO), a navaratna central public sector enterprise, has pledged to provide a loan of ₹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 the substantial amount to the Andhra Pradesh Capital Region Development Authority (AP CRDA) for the city's construction.

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

ET