Centre to pump in more for Chandrababu Naidu's Nagar Amaravati
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After facilitating loans for developing Amaravati city, the Centre has gone beyond the budget promise for key NDA ally N Chandrababu Naidu 's dream project and decided to fund a common central secretariat and a residential complex in the greenfield capital The Central Public Works Department , the primary construction agency of the Centre, will build the two projects worth ₹2,787 crore. The common central secretariat is planned within the government complex zone in Velagapudi on the banks of river Krishna in the Thullur mandal. This project is worth ₹1,458 crore. CPWD will also construct General Pool Residential Accommodation in Amaravati at ₹1,329 crore.So far, the Centre has facilitated World Bank and ADB loans to the tune of ₹15,000 crore and Housing and Urban Development Corporation loan of ₹11,000 crore. Besides, German state-owned developed bank KfW may offer a loan of ₹5,000 crore."So far the funds have been in the form of loans. The two projects will be the first direct intervention," said a senior state government official.The Department of Expenditure has given in-principle approval to the two proposals from the housing and urban affairs ministry, the nodal ministry for CPWD. Since the two projects are above ₹500 crore, they will need approval of the Public Investment Board . As per people familiar with the matter, the final cost will be appraised at the next meeting of the board that is headed by secretary (expenditure) and is the appraisal body for public investment proposals of central ministries and public sector undertakings.
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