Gujarat signs Rs. 1 lakh crore MoU with HUDCO for infra projects

Gujarat signed a major MoU with HUDCO for Rs. 1 lakh crore financing for infrastructure projects under the Viksit Gujarat 2047 vision. A second MoU was inked with IIM Ahmedabad to assist in project feasibility and implementation.

Gujarat Secures Rs. 1 Lakh Crore for Infrastructure Development

Under the guidance of Chief Minister Bhupendra Patel, Gujarat has taken a significant step towards realising the vision of Viksit Gujarat 2047, in alignment with Prime Minister Narendra Modi's vision of Viksit Bharat 2047. In the presence of CM Patel, an MoU was signed in Gandhinagar between the Government of Gujarat and the Housing and Urban Development Corporation Limited (HUDCO) for providing long-term financing of Rs. 1 lakh crore for various infrastructure development projects across the State through a strategic partnership. Finance Minister Kanubhai Desai and Minister of State Kamleshbhai Patel were present on the occasion.

As a follow-up to the recent high-level meeting between Chief Secretary MK Das and senior officials of HUDCO regarding the provision of adequate financial resources for infrastructure projects being implemented by various State Government departments, HUDCO will extend long-term financing of Rs. 1 lakh crore to support these development initiatives across Gujarat. The long-term funding will be utilised for the implementation of key development projects across the State, including Gujarat Metro Rail Phases 2 and 3, expressways, sports infrastructure, and the creation of world-class modern infrastructure in Dholera.

IIM Ahmedabad to Provide Strategic Support

Additionally, the State Government signed another MoU with the Indian Institute of Management (IIM), Ahmedabad. Under this MoU, IIM Ahmedabad will undertake pre-feasibility studies, feasibility assessments, preparation of Detailed Project Reports (DPRs), and impact evaluations for various projects envisioned under the Viksit Gujarat 2047 initiative to facilitate their effective implementation. CM expressed confidence that this landmark partnership would provide fresh impetus to infrastructure development, urban transformation, and inclusive economic growth across the state.

MoU Signing and Dignitaries Present

The MoU between the State Government and HUDCO was signed and exchanged by HUDCO Chairman and Managing Director Sanjay Kulshrestha on behalf of HUDCO and Sandeep Kumar, Secretary (Economic Affairs), Finance Department, on behalf of the Government of Gujarat.

The MoU with IIM Ahmedabad was signed by Prof. Sandip Chakrabarti, Chairperson, Public Systems Group, IIM Ahmedabad, representing the institute.

The MoU signing ceremony was attended by Chief Secretary MK Das, Advisor to the Chief Minister SS Rathore, Additional Chief Secretary, Finance Department, T Natarajan, Principal Secretary to the Chief Minister Sanjeev Kumar, Additional Principal Secretary to the Chief Minister Vikrant Pandey, Secretary Ajay Kumar, and other senior officials. (ANI)

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