HUDCO to lend Rs 11,000 crore for Amaravati capital

Amaravati: Housing and Urban Development Corporation Ltd (HUDCO), a Navaratna central public sector enterprise, has come forward to lend Rs 11,000 crore for the construction of Amaravati greenfield capital city in Andhra Pradesh, the state government said. Municipal Minister P Narayana, who was in Delhi on Monday, met with HUDCO chief executive Sanjay Kulshrestha and explained to him about the state's government's plans for Amaravati development. "Satisfied by the state government's proposals, HUDCO CEO agreed to lend Rs 11,000 crore to Andhra Pradesh Capital Region Development Authority (AP CRDA) for Amaravati construction," an official release said.