Hudco to give Rs.7,500 crore loan for Andhra capital: Minister

Visakhapatnam, Jan 11 (IANS) The Housing and Urban Development Corporation (Hudco) will extend a loan of Rs.7,500 crore for developing urban infrastructure in Andhra Pradesh’s upcoming capital Amaravati.

Union Urban Development Minister M. Venkaiah Naidu announced this on Monday at the CII Partnership Summit in this coastal city.

The minister said Andhra Pradesh was an ideal destination for investment due to its excellent connectivity, abundant mineral resources and great entrepreneurial skills. He promised all assistance to the state in attracting investments.

“We are willing to do everything possible to encourage industrialisation and extend a helping hand not because he (Chief Minister Chandrababu Naidu) is an alliance partner but because he is a performer and reformer,” he said.

Naidu described Andhra Pradesh as the second most happening state in India after Gujarat.

“Brand Hyderabad may have gone to Telangana but brand Chandrababu Naidu is with Andhra Pradesh to develop it as sunrise Andhra Pradesh,” he said while hailing the chief minister as a visionary.

Union Minister of State for Finance Jayant Sinha said like California in the United State, Andhra Pradesh would emerge as the growth engine of India.

The minister lauded the state’s initiatives relating to payment of social security pensions, public distribution and debt waiver for farmers. He said land pooling for Amaravati was a model worth emulating for the entire country.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here