Centre sanctions Rs. 250 cr for Polavaram SPV.

The Centre has decided to provide financial assistance of Rs. 250 crore to Andhra Pradesh this financial year for setting up a special purpose vehicle (SPV) for the Polavaram Irrigation Project.

According to a statement, this is being extended in accordance with Section 90 of the Andhra Pradesh Reorganisation Act, 2014. The Centre had earlier announced its decision to accord national project status for the mega multi-purpose project. This entitles the State to receive up to 90 per cent of the funds from the Centre in executing the project that seeks to link Godavari and Krishna river systems and facilitate better water supply to delta, Rayalaseema and other parts of the State.

HBL