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HUDCO willing to finance projects in NCR region

Last Updated: Sunday, October 14, 2012 - 19:39

New Delhi: State-owned Housing and Urban Development Corporation (HUDCO) has offered financial support for infrastructure projects in the National Capital Region of Delhi.

HUDCO Chairman and Managing Director V P Baligar told reporters that while tier-two cities were the focus of his organisation, it was willing to support areas in and around Delhi.

"NCR has ignored us," Baligar said when asked as to why there were a very few HUDCO-funded projects in the NCR region.

He said that he had written to the Delhi government that HUDCO funds were available for the state but added that Delhi government was in talks with World Bank for certain projects.

"I have written to the Chief secretary of Delhi as and when World Bank loan comes you can utilise that, but we are here to fund you any infrastructure project in addition to World Bank projects," Baligar said.

He said the World Bank may not give hundred per cent aid and the Delhi government could take HUDCO loans.

Baligar said he had also informed authorities in Ghaziabad, Noida, Gurgaon and Faridabad of HUDCO's willingness to provide assistance.

He said that HUDCO has provided Rs 700 crores for infrastructure development to Greater Noida authority which needed it to pay farmers whose lands had been acquired, he said.

Baligar said while not many projects from NCR region came to HUDCO, whenever they did, amounts were sanctioned.

He said state governments preferred World Bank and other loans when they proved to be cheaper.


First Published: Sunday, October 14, 2012 - 19:39
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