Shares of NCC Ltd were in focus after reports from NDTV indicated that the company has emerged as the lowest bidder (L1) for four tenders worth ₹1,670 crore for Amaravati infrastructure projects.
The Andhra Pradesh government has approved 59 projects worth ₹37,702 crore for the development of Amaravati, with work set to commence following Cabinet approval. These projects are expected to create employment for approximately 20,000 individuals, according to Prop News Time.
The projects have been divided between the Capital Region Development Authority (CRDA) and the Amaravati Development Corporation (ADC). Of these, CRDA is overseeing 22 projects worth ₹22,607 crore, while ADC is managing 37 projects amounting to ₹15,095 crore. Key developments include constructing an NTR statue, an iconic bridge, connecting roads to the national highway, and the Karakatta road along the Krishna riverbank.
Additionally, tenders worth ₹16,871 crore for 19 more projects are expected to be invited by the end of the month, bringing the total estimated investment in Amaravati’s development to around ₹64,000 crore, reported Prop News Time.
Funding Support for Amaravati Projects
To finance these large-scale developments, the Andhra Pradesh government has secured funding from multiple sources:
- HUDCO has sanctioned a loan of ₹11,000 crore for Amaravati’s infrastructure development.
- Germany’s KfW Development Bank has committed ₹5,000 crore.
- The Indian central government has allocated ₹1,500 crore for capital city projects.
- The World Bank has approved an $800 million (approximately ₹5,900 crore) loan for the Amaravati Integrated Urban Development Program.
- The Asian Development Bank (ADB) is supporting the Inclusive, Sustainable, and Resilient Amaravati Capital City program to enhance the city’s economic prospects and living standards.
These developments mark a major push toward making Amaravati a well-managed, climate-resilient, and job-generating urban hub.
