World Bank ready to extend Rs 15k cr loan for Amaravati: Andhra CM Naidu

Andhra Pradesh Chief Minister N Chandrababu Naidu on Tuesday said that the World Bank has agreed to extend Rs 15,000 crore loan to the state government for the construction of the capital Amaravati and its work will start from December. Addressing a press conference here, Naidu, thanking Prime Minister Narendra Modi, whom he met on Monday, said, the Centre has agreed to release Rs 12,500 crore towards the construction works of Polavaram project. He further said oil and gas major Bharat Petroleum Corporation Ltd will be setting up a refinery with an investment outlay of Rs 85,000 crore in the state and the company is currently conducting a feasibility study into selecting the location. The chief minister said he appraised the PM of "Swarna Andhra Pradesh 2047" vision document which is under preparation, aiming to make the state a USD 2.5 trillion economy with USD 40,000 per capita income. "The World Bank has agreed to give Rs 15,000 crore for the construction of Amaravati capital ..