Andhra Pradesh Cabinet Clears ₹10 Billion Loan For Airport Projects From HUDCO

The Andhra Pradesh state Cabinet on Wednesday approved a proposal allowing Andhra Pradesh Airports Development Corp. to raise a ₹10 billion loan from Housing And Urban Development Corp. Ltd., the state government said in a release.

The funds will be used to provide viability gap funding for the upcoming airport at Kuppam, near Tirupati. Part of the loan will also support development of regional airports at Shrikakulam and Amaravati.

The nodal agency also plans to use a portion of the loan to clear pending bills related to ongoing infrastructure work, the release added.