Andhra CRDA Approves Rs 377.02 Bn for 59 Projects
ECONOMY & POLICY

Andhra CRDA Approves Rs 377.02 Bn for 59 Projects

On 12 March, Andhra Pradesh Municipal Administration Minister P Narayana revealed that the Capital Region Development Authority (CRDA) has approved tenders for 59 development projects worth Rs 377.02 billion. These projects will move forward following the 17 March Cabinet approval. The announcement came after the 45th CRDA meeting, which saw key decisions on land distribution and infrastructure taken under the leadership of Chief Minister N Chandrababu Naidu.

Earlier, tenders for 73 projects valued at Rs 480.12 billion had been issued. Of these, tenders for Rs 37,702 crore were opened and approved on 10 March, with Letters of Intent set to follow shortly. The new projects include 22 by CRDA, valued at Rs 226.07 billion, and 37 projects by the Amaravati Development Corporation (ADC), amounting to Rs 15,095 crore.

Further tenders for additional projects, including a signature bridge and vital road linkages, will be issued by the end of March. With Rs 31,000 crore in loans from the World Bank and HUDCO, and Rs 6,000 crore from budgetary provisions, the state aims to develop 53,500 acres in the capital region.

On 12 March, Andhra Pradesh Municipal Administration Minister P Narayana revealed that the Capital Region Development Authority (CRDA) has approved tenders for 59 development projects worth Rs 377.02 billion. These projects will move forward following the 17 March Cabinet approval. The announcement came after the 45th CRDA meeting, which saw key decisions on land distribution and infrastructure taken under the leadership of Chief Minister N Chandrababu Naidu. Earlier, tenders for 73 projects valued at Rs 480.12 billion had been issued. Of these, tenders for Rs 37,702 crore were opened and approved on 10 March, with Letters of Intent set to follow shortly. The new projects include 22 by CRDA, valued at Rs 226.07 billion, and 37 projects by the Amaravati Development Corporation (ADC), amounting to Rs 15,095 crore. Further tenders for additional projects, including a signature bridge and vital road linkages, will be issued by the end of March. With Rs 31,000 crore in loans from the World Bank and HUDCO, and Rs 6,000 crore from budgetary provisions, the state aims to develop 53,500 acres in the capital region.

Next Story
Infrastructure Urban

Goa: Congress' Girish Chodankar Alleges Major Land Conversion Scam

A senior minister in the Goa government has been accused of involvement in a large-scale scam related to land classification. Allegations suggest that substantial bribes, amounting to billion, were collected to facilitate the removal of land from private forest classifications. Reports indicate that landowners paid over Rs 1,000 per square meter to have their properties reclassified. The controversy intensified following judicial rulings that halted the sale of private forests and nullified changes made under Section 17(2) of the land conversion law. These decisions have reportedly created c..

Next Story
Infrastructure Transport

New Survey Revives Hopes for an Airport in North Telangana

The Basantnagar mini airport was initially constructed by Kesoram Cement Factory, featuring an airstrip intended for Vayudoot planes. However, the facility ceased operations when Vayudoot services were discontinued. In August 2017, under the UDAN regional connectivity scheme, efforts were made to revive the airport. A district-level survey was conducted that same year, identifying an additional 600 acres of land, including forest, government, and some private land in Kurmapalli, to expand the existing mini airport area. Following the survey, the state government submitted proposals for the..

Next Story
Infrastructure Transport

IndiGo's Parent Firm Approves $45 Mn Investment in IFSC Unit

InterGlobe Aviation, the parent company of IndiGo, has announced an investment of up to $45 million in its subsidiary, InterGlobe Aviation Financial Services IFSC. The decision was approved during the company’s board meeting. The investment, amounting to approximately Rs 3,940 million, will be made in one or more tranches. According to regulatory filings, the allocated funds will be used to finance aviation assets, repay existing loans, and support other corporate activities of the subsidiary. InterGlobe Aviation Financial Services IFSC was established in October 2023 and specialises in ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?