HYDERABAD: The state government has accorded permission to the Telangana Urban Finance and Infrastructure Development Corporation (TUFIDC) to borrow Rs 172 crore from the Housing and Urban Development Corporation (HUDCO) to take up infrastructure projects in urban local bodies (ULBs).
Municipal Administration Secretary T K Sreedevi issued orders to this effect on Tuesday.
According to the orders, the vice-chairman and managing director of TUFIDC informed the government that permission had earlier been accorded to the corporation to raise loans of up to Rs 7,000 crore from various financial institutions to implement infrastructure projects in ULBs.
HUDCO has now sanctioned a loan of Rs 172.02 crore to TUFIDC. The corporation requested the government to permit it to avail the loan under the take-out finance facility, accepting the conditions stipulated by HUDCO.
Accordingly, the government granted permission for TUFIDC to avail the loan.