HUDCO announces funds for Amaravati capital city initiative

For Amaravati’s construction, HUDCO is investing ₹11,000 crore, guaranteeing essential funding in addition to World Bank and ADB contributions.

A Navaratna government public sector company, Housing and Urban Development Corporation Ltd. (HUDCO), is investing ₹ 11,000 crore to build Andhra Pradesh’s greenfield capital city, Amaravati. The state government emphasising a major boost for the ambitious project.

In Delhi, Municipal Minister P Narayana met with Sanjay Kulshrestha, the CEO of HUDCO, to talk over the state government’s all-encompassing plans for Amaravati’s development. The agreement to extend the sizeable loan resulted from the CEO of HUDCO expressing satisfaction with the offers made after the meeting.

Given that Phase 1 work in Amaravati is expected to cost ₹ 26,000 crore, the finance is essential. The project now has much more financial support overall thanks to HUDCO’s commitment. Given the ₹ 15,000 crore previously committed by the World Bank and Asian Development Bank (ADB), HUDCO’s ₹ 11,000 crore loan is essential to completing the funding needed for this ambitious urban development.

Amaravati’s development is viewed as a game-changing initiative for Andhra Pradesh, with the goal of building a contemporary, sustainable capital that supports both economic expansion and human demands. The Andhra Pradesh Capital Region Development Authority (AP CRDA) is now prepared to move forward with the construction of vital infrastructure in Amaravati thanks to this additional financing.

HUDCO’s financial investment demonstrates the government’s commitment to achieving its goal of creating a world-class capital city and marks a major advancement in the region’s completion of this historic project.

21