HUDCO lends Rs 20 bn for projects in Punjab

Housing and Urban Development Corporation (HUDCO) cleared a loan of Rs 2,000 crore to complete major infrastructure projects in Ludhiana, Punjab. It may be noted that the state government prepared a scheme of financial assistance for development of municipal infrastructure under urban local bodies of Punjab. Out of the Rs 2,000 cr, the corporation already approved projects worth Rs 453.96 crore on the security of the state government and a 20-member team of the corporation discussed detail of these projects with the government. The team also visited the Balloke sewerage treatment plant to assess its working and see if the work for which it granted loan was being done or not. Earlier, HUDCO sanctioned a loan of Rs 150 crore for sewerage issues in the city. Out of this, Rs 82 crore were released earlier and we asked for Rs 12 crore more this year. Taking note of it, Rs 8 crore more were given to us yesterday to fill the sewerage pipe gaps from Balloke to Lohara. They visited the plant to see its functioning. The projects approved by HUDCO for city include construction of flyovers at Bharat Nagar Chowk, Bhai Wala Chowk, Sarabha Nagar Chowk and Jamalpur worth Rs 24 crore each. Besides, the corporation supported widening of Ferozepur road (NH 95) six-lane to eight-lane worth Rs 34 crore and widening of roads along Buddha nullah and Humbran road worth Rs 110 crore and Rs 5 crore respectively.