Andhra Pradesh

A.P. govt. gives guarantee for ₹3000 crore loan to AMRDA

Chief Minister Y.S. Jagan Mohan Reddy discussed the incomplete projects in the Amaravati region, in the Cabinet meeting on Tuesday.  

In an attempt to give impetus to the works undertaken in the capital region of Amaravati, the State Cabinet has cleared a proposal, giving a guarantee to the Amaravati Metropolitan Region Development Authority (AMRDA) to avail a loan of ₹3,000 crore from banks.

The Cabinet meeting chaired by Chief Minister Y.S. Jagan Mohan Reddy on Tuesday discussed in detail the incomplete projects in the Amaravati region. The government constituted the AMRDA replacing the Andhra Pradesh Capital Region Development Authority (APCRDA) in August last year.

However, there is a slow progress of the works being undertaken in Amaravati in the recent past, after the government decided to shift the capital to Visakhapatnam.

“The AMRDA will undertake the trunk infrastructure works and Land Pooling Scheme (LPS) related works in the Amaravati region,” said Information and Public Relations Minister Perni Venkatramaiah (Nani).

Kadapa steel Plant

The Cabinet has also decided to set up the steel plant proposed in Kadapa district as a joint venture and selected the partners as per the SBI Cap recommendations. The Liberty Steel India was selected as the JV partner.

The Cabinet has permitted YSR Steels Corporation Managing Director to issue a letter of acceptance (LOA) for the joint venture. The first phase of the works would incur an expenditure of ₹10,082 crore, while ₹6,000 crore will be spent in the second phase.

The production capacity of the plant would be around three million tonnes of steel in the first phase, which would be augmented by another three million tonnes in the second phase, the Minister said.

The Cabinet has also approved proposals for creating farmgate infrastructural facilities, multi-purpose centres under Rythu Bharosa Kendras (RBKs), Janata Bazaars and etc. A sun of ₹2719.11 crore would be spent on creating farmgate infrastructure. In all, about ₹12,000 crore would be spent on these activities, he said.

TIDCO houses

The TIDCO houses (300 sft) worth ₹2.65 lakh would be allotted for one rupee. The houses (430 sft) worth ₹4.65 lakh would be allotted for ₹4.15 lakh. The 365 sft houses priced at ₹3.65 lakh earlier would be allotted at ₹3.40 lakh, the Minister said, adding, the government would shoulder a burden of ₹5,579 crore on this front.

The other major decisions of the State Cabinet include amendment to Andhra Pradesh Land Development Layout and Sub Division-2017 Act, clearance to a proposal to distribute house sites to the employees of the Tirumala Tirupati Devasthanams (TTD).

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Printable version | Apr 22, 2021 10:14:41 PM | https://www.thehindu.com/news/national/andhra-pradesh/ap-govt-gives-guarantee-for-3000-cr-loan-to-amrda/article33917392.ece

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