Telangana Chief Minister A. Revanth Reddy has appealed to HUDCO Chairman Sanjay Kulshrestha to grant loans at lower interest rates to support several of the State’s flagship development projects currently underway.
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The HUDCO chairman met the Chief Minister in Hyderabad on Monday, where the CM explained the State’s pressing need for affordable funding for large-scale infrastructure initiatives.
Bharat Future City, Metro Expansion, RRR and Radial Roads on Priority
During the meeting, Revanth Reddy urged HUDCO to extend financial support at concessional interest rates for major projects including:
- Bharat Future City
- Hyderabad Metro Rail extension
- Regional Ring Road (RRR)
- Radial Roads
The Chief Minister also briefed the chairman on upcoming greenfield connectivity projects from Bharat Future City to Chennai via Bengaluru and Amaravati, along with the proposed greenfield highway to Bandar Port and plans for a bullet train corridor.
CM Seeks Restructuring of High-Interest Loans Taken by Previous Government
Revanth Reddy highlighted the issue of legacy loans burdened by high interest rates, urging HUDCO to consider restructuring or reconstructing these loans to ease financial stress on the State.
HUDCO Chairman Sanjay Kulshrestha responded positively and expressed willingness to address the matter.
HUDCO Sanctions for Indiramma Housing and More Support Promised
The chairman informed the Chief Minister that HUDCO has already sanctioned loans for Indiramma housing. He also assured that the corporation would act swiftly on loan approvals for the construction of an additional 10 lakh houses under State housing initiatives.
CM Invites HUDCO Leadership to Global Summit at Bharat Future City
Before concluding the meeting, Revanth Reddy invited the HUDCO chairman to attend the Global Summit planned at Bharat Future City on December 8 and 9.
The meeting was also attended by:
- Revenue Minister Ponguleti Srinivas Reddy
- Chief Secretary K. Ramakrishna Rao
- Secretary to CM K.S. Srinivasa Raju
- Principal Secretary (Finance) Sandeep Kumar Sultania
- Special Chief Secretary Vikas Raj
- Housing Department MD Gautam
- HUDCO Regional Chief P. Subhash Reddy
- HUDCO Joint GMs Ashish Gundala and Syed Rahimuddin, among others.