The coalition government in Andhra Pradesh is advancing its agenda for state development, securing significant investments as part of its efforts. Major corporations have already committed to financing essential projects in the state.
HUDCO Approves INR 11,000 Crore Loan for CRDA
The Housing and Urban Development Corporation Limited (HUDCO) recently agreed to extend a loan of INR 11,000 crore to the Capital Region Development Authority (CRDA) for the construction of Amaravati. This funding, alongside the central government’s allocation of INR 15,000 crore in the recent budget, brings the total available for Amaravati’s development to INR 26,000 crore. The government plans to expedite the construction pace in December, preparing for tender invitations to move projects forward swiftly.
Extended Support for Tidco Housing and Power Infrastructure
HUDCO’s support includes financing for the completion of Tidco housing projects across Andhra Pradesh. The corporation has also committed to backing the state’s power infrastructure, specifically in constructing new substations. HUDCO Chairman Sanjay Kul, in a recent meeting with Minister Gottipati Ravikumar, expressed willingness to support DISCOMs with financial aid for these critical projects, signaling a comprehensive investment approach to foster growth in the region.