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HUDCO to fund Bihar industrial infrastructure with Rs 25,000 crore

HUDCO has signed an MoU with the Bihar government to provide up to Rs 25,000 crore over five years for industrial parks, land acquisition and related infrastructure

PSU Watch Bureau

New Delhi: Housing and Urban Development Corporation Limited (HUDCO) has signed an MoU with the Government of Bihar to provide term loans of up to Rs 25,000 crore over five years for the development of industrial infrastructure in the state.

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The funding will support the development of industrial parks across Bihar, including land acquisition and enabling infrastructure. The loans will be provided in tranches to a statutory authority designated by the state government.

Under the agreement, HUDCO will offer flexible financing terms, including a moratorium and a repayment schedule of up to 25 years, with an option for prepayment. Repayment will be backed by project-generated revenues or other identified revenue sources, including state budget allocations.

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Also read:HUDCO approves Rs 1.50 final dividend and Rs 70,000 crore fundraising plan in its 56th AGM

The MoU will remain valid for three years, subject to annual review, with separate operational agreements to be executed for individual projects.

The agreement was signed by Kuhdah Kumar, Managing Director, Infrastructure Development Authority, Bihar, and Sanjay Kulshrestha, Chairman and Managing Director, HUDCO.

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