BANGALORE: Hudco, a subsidiary of the Union Government, has come forward to extend a loan of Rs. 700 crore to Namma Metro project. According to a press release, chief minister D V Sadananda Gowda had a detailed discussion with V P Baligar, Chairman and Managing Director of Hudco, at New Delhi on Saturday during which it was decided that the Union Government subsidiary will extend the loan. “The loan agreement will be signed between Hudco and the BMRTCL shortly,” the release stated. Urban Development Minister S Suresh Kumar, Minor Irrigation Minister Govind Karjol and State Government’s Special Representative in New Delhi V Dhananjaya Kumar were present in the meeting. Hudco has supported a total of 1,437 schemes involving a cost of Rs. 71,026 crore which include a loan component of Rs. 14,779. Out of Rs. 14,779 loan component, Rs. 8,357 crore are released.
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