HUDCO loan to APSRTC waits for govt guarantee

Andhra Pradesh Road Transport Corporation (APSRTC) is eagerly waiting for the Chief Minister’s nod for getting a loan from Housing and Urban Development Corporation (Hudco) to fulfil its immediate needs.  The HUDCO wanted a guarantee from State government for sanction the loan to RTC a few days ago following consultations with RTC MD M Malakondaiah during his Delhi tour on December third week, 2016.  A file in this regard has been put up for Chief Minister’s consent through the State finance department a few days ago. According to senior officers in RTC, the corporation made a proposal to HUDCO for a loan of Rs 1,200 crore. After negotiations with RTC MD, the HUDCO has accepted to sanction Rs 1,000 crore and wanted guarantee from the State government.