A Memorandum of Understanding (MoU) has been signed by the Rajasthani government and the Housing and Urban Development Corporation Limited (HUDCO) to fund housing and urban infrastructure projects. The Rs 1,00,000 crore deal will be in effect for the next five years, subject to terms and conditions that have been agreed upon by both parties.
The MoU is an in-principle agreement aimed at improving Rajasthan’s housing and urban infrastructure. The financial aid will help a variety of projects aimed at improving the state’s living conditions and infrastructure.
The agreement was signed by Shri Debasish Prusty, an IAS, Secretary to the Government, Finance (Budget) Department, Rajasthan and Shri Sanjay Kulshrestha, Chairman and Managing Director (CMD) of HUDCO. The signing event was held in Jaipur with the honourable chief minister of Rajasthan, Shri Bhajan Lal Sharma, in attendance.
In the meantime, as of 2:57 pm, HUDCO shares were trading 2.21 % higher at Rs 314.10.
