World Bank to extend ₹15,000 crore loan for Amaravati construction, confirms CM Naidu
Centre has promised to fund ₹ 12,500 crore in the construction works of the Polavaram project.
Andhra Pradesh Chief Minister, Chandrababu Naidu, confirmed the approval of ₹15,000 crore loan from the World Bank for the construction of Amaravati, the new capital city of Andhra Pradesh. Naidu, while addressing a press conference on Tuesday, announced that the work will commence in December. “The World Bank has agreed to give ₹ 15,000 crore for the construction of Amaravati capital phase 1. The work will start in December. We will work in a time-bound manner,” he said.
Referring to his Monday meeting with Prime Minister Modi, the Andhra CM praised him as the Centre has promised to fund ₹ 12,500 crore in the construction works of the Polavaram project. Naidu mentioned that he briefed the PM about the “Swarna Andhra Pradesh 2047” vision document, which is being prepared to make the state a USD 2.5 trillion economy with USD 40,000 per capita income.
Infrastructure and Projects
He further shed light on several projects by Bharat Petroleum Corporation Ltd., which will bring in ₹ 85,000 crore investment in the state to set up a refinery. The company is currently conducting studies to finalise the location, he added.
Highlighting several infrastructure projects, the CM said the upcoming Visakhapatnam International Airport at Bhogapuram will be ready by December next year. Meanwhile, the GMR group, which is executing the project, was asked to set up a “Civil Aviation University” in the vicinity. “I have explained to the Prime Minister about the financial destruction that took place during the last five years. At the same time, I have informed him that the state is facing financial difficulties,” Naidu said.
While answering a question, CM Naidu underlined that Telangana and Andhra Pradesh are engaged in talks to resolve pending issues.
Allegations on YSRCP
Naidu accused the former YSRCP government of neglecting centrally sponsored schemes and wasting the funds on other purposes. Naidu alleged that they had not provided utilisation certificates for the funds, which caused a pause in fund flow.
Widening the horizon of allegations, Naidu claimed that the laxity of the previous government has caused 85 lakh tons of garbage piles across the state.
Mentioning the Centre’s efforts for AP, he said the union government is considering various options to safeguard the pulse of Visakhapatnam Steel Plant. He further stated that the centre was requested to build a new Greenfield Expressway connecting Vijayawada and Hyderabad and a 185-kilometre Outer Ring Road around Amravati.
Currently, Andhra CM Chandrababu Naidu is in Delhi, where he met PM Modi and some of his Cabinet colleagues, including Nitin Gadkari and Hardeep Singh Puri.
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