HUDCO's Rs 11,000 Crore Boost for Amaravati's Greenfield Capital

The Housing and Urban Development Corporation Ltd (HUDCO) has decided to provide Rs 11,000 crore in funding for the development of the Amaravati greenfield capital in Andhra Pradesh. This funding pledge complements loans from the World Bank and Asian Development Bank, securing the necessary finances for phase one.

The Housing and Urban Development Corporation Ltd (HUDCO) has agreed to lend Rs 11,000 crore for the development of Amaravati, the proposed greenfield capital city in Andhra Pradesh, according to state officials.

Municipal Minister P Narayana held discussions in Delhi with HUDCO's CEO Sanjay Kulshrestha, outlining the state government's ambitious plans for the region's development.

The commitment from HUDCO will, along with loans from the World Bank and Asian Development Bank, cover the Rs 26,000 crore required for the first phase of Amaravati's construction, signaling a significant step forward for the project.

(With inputs from agencies.)