Housing and Urban Development Corporation Ltd (HUDCO), a leading public sector enterprise, has committed ₹11,000 crore in financial assistance for the development of the Amaravati greenfield capital city in Andhra Pradesh. This significant funding support will contribute to the completion of Phase 1 of the project, which requires a total investment of ₹26,000 crore.
According to an official statement, the announcement was made following a meeting in New Delhi between Andhra Pradesh’s Municipal Minister, P Narayana, and HUDCO‘s Chief Executive, Sanjay Kulshrestha. During the meeting, Narayana presented the state’s ambitious plans for Amaravati’s development. HUDCO expressed confidence in the project and agreed to lend a substantial amount to the Andhra Pradesh Capital Region Development Authority (AP CRDA).
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This loan, coupled with prior commitments from the World Bank and the Asian Development Bank (ADB), which together pledged ₹15,000 crore, ensures that the financial needs for Phase-1 of the Amaravati project are fully met. The combined support of these institutions guarantees the smooth progress of the capital’s construction.
