HUDCO sanctions loan for Underground drainage system at Nellore

State government has sanctioned underground drainage project at a cost of Rs. 508 crore to Nellore which would taken up with the financial assistance from the Housing and Urban Development Corporation (HUDCO) and Nellore Municipal Corporation (NMC) has to bear Rs 60 crore for the project.

This project is very important to the city , which was affected very badly due the floods recently. This project has been aimed to ensure proper removal of sewage and domestic water in the city at various places, and also for improving water flow in Sarvepalli canal which is in a bad shape with garbage obstructing the flow of water.

State government has approached the Japan International Cooperation Agency (JICA) that provides loan at 0.5 percent interest as HUDCO interest rate would be around 14percent. The Municipal Administration have decided to take the HUCO loan. Municipal department have decided to clear the HUDCO loan as soon as JICA grants the loan.

Be the first to comment

Leave a Reply

Your email address will not be published.


*



*