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Gujarat signs ₹1 lakh crore HUDCO pact for metro, expressway projects
Gujarat secured a ₹1 lakh crore funding line from HUDCO for metro, expressways, and Dholera. A separate IIM-A pact adds project evaluation support under Viksit Gujarat 2047.
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The Gujarat government locked in a long-term financing line of up to ₹1 lakh crore from state-owned lender HUDCO, earmarked for metro rail, expressways, and urban development. The memorandum of understanding was signed Wednesday in Gandhinagar with Chief Minister Bhupendra Patel present.
The funding pipeline covers Ahmedabad Metro Rail Phases 2 and 3, expressway corridors, sports infrastructure, and the Dholera smart city project. HUDCO, formally the Housing and Urban Development Corporation Ltd, will provide the capital under a structured drawdown schedule tied to project milestones.
In a separate agreement, the state signed an MoU with the Indian Institute of Management Ahmedabad (IIM-A) for technical and strategic support. IIM-A will run pre-feasibility studies, feasibility assessments, detailed project reports, and impact evaluations for projects under the Viksit Gujarat 2047 programme. The institute's role is to help the government assess project viability, prioritise spending, and improve execution outcomes on large infrastructure builds.