HUDCO approves funds for Amaravati Construction worth Rs 11,000 Crore
The allocation of Rs 11,000 crore for Amaravati’s construction was originally made by HUDCO in the past.
HUDCO approves funds for Amaravati Construction worth Rs 11,000 Crore
State-owned Housing and Urban Development Corporation (HUDCO) has approved the release of Rs 11,000 crore for the construction of Andhra Pradesh's capital city, Amaravati.
With the announcement of the development, Andhra Pradesh Minister for Urban Development, P. Narayana, stated that the government had been in discussions with HUDCO regarding the funding and that this decision would expedite the capital city’s construction.
The allocation of Rs 11,000 crore for Amaravati’s construction was originally made by HUDCO in the past. Minister Narayana met with HUDCO Chairman and Managing Director Sanjay Kulshreshtha in October last year to discuss the release of funds.
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During the meeting, the minister explained the measures the Andhra Pradesh government was undertaking and detailed the fund utilization plan to the HUDCO CMD.
With these discussions, the approval for fund release was granted during a recent HUDCO board meeting held in Mumbai. Minister Narayana expressed optimism, noting that the decision would accelerate the pace of development activities in Amaravati.
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