HUDCO and Germany’s KfW Development Bank will form into a consortium and came forward to provide a loan of Rs 16,000 crore for capital city Amaravati. Of this, HUDCO has agreed in principle to provide a loan of Rs 11,000 crore and KfW Bank has agreed to provide a loan of Rs 5,000 crore. The process of negotiations with them is expected to be concluded in the next 15 to 20 days.
The government has given full authority to CRDA Commissioner Katamaneni Bhaskar to hold consultations with HUDCO and KfW banks on issues related to the sanction of the loan. This decision was taken at the 40th meeting of the CRDA Authority held at the Secretariat on Monday under the chairmanship of Chief Minister Chandrababu Naidu.
Official sources said that the loan provided by HUDCO and KfW banks does not fall within the scope of the state’s loan limit. The World Bank and ADB are all set to provide a loan of Rs 15,000 crore to the capital. An agreement was recently signed between the World Bank, ADB and CRDA in Delhi.
The agreement will be approved at the World Bank Board meeting to be held on the 17th of next month. 25 percent of the loan provided by the World Bank and ADB will be disbursed to CRDA by the end of next month.
Meanwhile, the CRDA Authority has approved the assignment of the design of the High Court, Legislative Assembly, Secretariat and Heads of Department Office Towers, which will be built as iconic buildings in the capital, to renowned London-based architect firm Norman Foster and Partners. Between 2014-19, Norman Foster designed the administrative city plan, the High Court, the Legislative Assembly, the Secretariat, and the HOD office towers in the capital.
Later, the Jaganmohan Reddy government stopped the capital works and expelled Norman Foster halfway. CRDA recently called for tenders to complete the work still to be completed regarding the designs of those buildings, design the interior designs, and also to hand over the responsibility of supervising the construction of the entire buildings until the completion of the construction.
Norman Foster won the tender again as L1. The tender will be finalized to pay Rs 138 crore for the High Court and Legislative Assembly buildings, and another Rs 138 crore for the five towers related to the Secretariat and the HOD offices.
Earlier, it was planned to set up only the offices of various heads of departments in those five towers along with the Secretariat. Now it has been decided to set up the state-level offices of the state government and public sector undertakings in those five towers.
Official sources said that while lands were previously allocated in the capital for the offices of some organisations, they will be cancelled and their offices will also be set up in the five towers.
