HUDCO Emerges As Maharashtra’s Key Infra Financier With ₹30,000 Crore Push
HUDCO is emerging as the Maharashtra government’s key infrastructure financier, sanctioning over ₹30,000 crore for major projects. Funds are largely directed toward land acquisition for expressways, urban corridors, and airports. Key investments include Pune Ring Road, Nagpur-linked corridors, and Purandar Airport, alongside loans to power utilities and upcoming urban projects.
HUDCO Emerges As Maharashtra’s Key Infra Financier With ₹30,000 Crore Push | file pic
Mumbai: The Housing and Urban Development Corporation (HUDCO), a public sector enterprise of the Government of India, is rapidly emerging as the Mahayuti government’s primary financier for highstakes infrastructure development.
Reflecting this growing reliance, HUDCO has sanctioned proposals worth over ₹30,000 crore for state-led initiatives in recent years. Recently, the Maharashtra Urban Infrastructure Fund (MUIF) approached the central agency for a ₹2,000 crore loan to facilitate urban projects in Chhatrapati Sambhajinagar, Nagpur, and Mira-Bhayandar.
HUDCO has already committed ₹5,500 crore for the construction of the Pune Ring Road and is underwriting land acquisition for the Virar-Alibag Multi-Modal Corridor and the Jalna-Nanded Expressway, a critical extension of the Samruddhi Corridor.
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Highly placed sources indicated that the credit lines are predominantly directed toward land acquisition. During a state cabinet session this week, the government formalised plans to tap the central lender for land acquisition across three major expressway projects in the Vidarbha region.
These corridors are designed to link Nagpur with Gondia and Chandrapur, while connecting Bhandara with Gadchiroli. Financial requirements for these include ₹3,162 crore for the Nagpur-Gondia stretch, ₹931 crore for the Bhandara-Gondia project, and ₹2,353 crore for the Nagpur-Chandrapur route.
Furthermore, the cabinet has green-lit a proposal to secure a ₹6,000 crore loan from HUDCO for land acquisition related to the Purandar Airport project in Pune district.
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The Maharashtra Industrial Development Corporation (MIDC), which maintains a 15% stake in the greenfield airport, will oversee the repayment of this facility. In the energy sector, HUDCO has extended ₹2,785 crore to MSEDCL, the state power distribution utility, to settle outstanding dues owed to MahaGENCO and MahaTransmission, the state’s generation and transmission entities.
Additionally, the corporation has been approached for a ₹5,000 crore loan for the International Business Finance Centre (IBFC) in Nagpur, while the state intends to raise another ₹8,000 crore for the Nagpur Ring Road and Truck and Bus Terminal project
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