APCRDA, HUDCO Sign ₹11,000 Crore Loan Agreement for Amaravati Development.

Andhra Pradesh Capital Region Development Authority (APCRDA) and Housing and Urban Development Corporation (HUDCO) signed a ₹11,000 crore loan agreement on Sunday to fund the construction of Amaravati, the state’s greenfield capital city. The agreement was formalized in the presence of Chief Minister N. Chandrababu Naidu at his residence in Undavalli, Guntur district.

According to an official statement, HUDCO will provide financial assistance to support Amaravati’s development under the agreement. The decision to extend the loan was approved during a HUDCO board meeting held in Mumbai on January 22.

The signing ceremony was attended by Andhra Pradesh’s Municipal Administration Minister P. Narayana, HUDCO Chairman and Managing Director Sanjay Kulshrestha, and other senior officials.

ET