Rs. 700 crore HUDCO Loan Assistance to Bangalore Metro

Hon’ble Chief Minister Shri.D.V.Sadananda Gowda had a detailed discussion with Shri.V.P.Baligar, CMD, Hudco today (01.10.2011) at New Delhi, about various Hudco assisted  Schemes in Karnataka. 

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Sri.Suresh Kumar, Hon’ble Minister for Urban Development, Sri.Govinda Karjola, Hon’ble Minister for Kannada and Culture and Sri.V.Dhanajaya Kumar, Special Representative of Government of Karnataka in New Delhi  were present in the meeting.

HUDCO, a Government of India subsidiary, has come forward to extend a loan of Rs.700 crore to “Namma Metro” Project of Bangalore. The loan agreement will be signed between HUDCO and BMRTCL shortly.

HUDCO Assistance to Karnataka

HUDCO has supported a total of 1,437 schemes in the State of Karnataka involving a cost of Rs. 71,026 crore which include a loan component of Rs. 14,779 crore. Out of 14,779 crore loan component, Rs. 8,357 crore has been released so-far.

Housing Projects

An amount of Rs. 4,179.99 crore has been sanctioned and Rs.3,672 crore released for housing projects.  A total of 21,83,153 housing units have been supported by HUDCO of which 96.77% pertained to EWS and LIG categories.

Urban Infrastructure Projects

HUDCO has also sanctioned a total of 165 Urban Infrastructure Projects in Karnataka with a total project cost of Rs. 62,962.81 crore which include a loan component of Rs.10,599.41 crore.  These infrastructure projects mainly consist of 42 water supply schemes, 15 IT parks, 21 roads and bridges, 27 commercial and 29 social infrastructure projects.

Press release dated 1-Oct02011 from the Deputy Director, Karnataka Information Center,
Karnataka Bhavan-2 (Sharavathi), New Delhi.

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The News Desk at Citizen Matters puts out Press Releases, notifications and curated information useful to the urban reader.