Gulte News
Amaravati, the capital city of Andhra Pradesh, is receiving more financial assistance, indicating that it would take shape as desired by the public and the authorities.
The Housing and Urban Development Corporation (HUDCO) has sanctioned a loan of Rs 11,000 crore to the state government for carrying out construction works in the capital city.
The financial aid was granted following a meeting between MAUD minister P. Narayana and HUDCO CMD Sanjay Kulshrestha in New Delhi.
Narayana explained Sanjay about the plan and that the estimated cost for constructing buildings, roads, and other infrastructure would be Rs 50,000 crore. The AP government has proposed to the central government to connect Amaravati with the Vijayawada Metro. Impressed by the plan, Sanjay agreed to sanction the loan. Of the total amount, Rs 26,000 crore is needed for the first phase of works.
With funds flowing in from the Centre, World Bank and other agencies, Chief Minister N. Chandrababu Naidu restarted works at Amaravati.
The World Bank and Asian Development Bank (ADB) together agreed to provide Rs 15,000 crore.
The TDP coalition government put its thrust on construction of the capital and employment generation and accordingly, is moving ahead in the direction.
