HUDCO to provide Loan for Jewar Airport Project, UP Government Grants In-principle approval

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(27/10/2017) Greater Noida:

Long awaited Jewar International Airport project is finally soon going to start taking shape on ground. Uttar Pradesh government has now granted in-principal approval for taking the loan of 3000 crores from central agency HUDCO or Housing and Urban Development Corporation Limited.

A meeting in this regard took place in Lucknow which was called by Industrial Development Commissioner (IDC) Anup Chandra Pandey and Industrial Principal Secretary Alok Sinha.

The proposal is expected to be passed in upcoming state cabinet meeting. The amount being taken as loan by HUDCO will be utilized to acquire land for first phase of Airport.

OSD Shailendra Bhatia took part in Lucknow meeting and informed the press about the decisions taken in the meeting. He said, “HUDCO has agreed to sanction loan at an interest rate of 10.5%. YEIDA has been designated as the nodal agency coordinating and negotiating the loan on behalf of Uttar Pradesh government”.

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