VIJAYAWADA: The State government on Monday issued an order giving administrative sanction for Rs 230 crore towards loan to the AP Airports Development Corporation Limited (APADCL) as an interim arrangement for expediting the land acquisition and relief and rehabilitation activities pertaining to Bhogapuram airport.
The APADCL MD and CEO was already permitted to take short term loan to the extent of Rs 230 crore from APIIC on reimbursement basis and a sum of RS 220 crore has been borrowed from APIIC. Now, the Finance Department issued the Budget Release Order for RS 230 crore as loan to APADCL.
The government also sanctioned RS 50 crore to the AP High Grade Steels Limited to engage consultants for collaboration.