Page 10 - NEWSLETTER OCT to DEC 2023 Vol57

Accordingly, HUDCO officials have been advised to
approach the power sector companies in Gujarat viz.
GETCO, GUVNL, GSECL.
Meeting Mr. Tapan Ray, IAS (Retd.), Managing Director
& Group CEO, Gujarat International Finance Tec-city
(GIFT City), Gandhinagar
CMD explained HUDCO’s willingness to associate with
GIFTCL for consultancy and long term financing. A
detailed discussion was held regarding expansion of GIFT
city area, new township and infrastructure projects to be
developed in the near future. During the discussion, it was
proposed that a MoU can be executed between HUDCO
& GIFTCL for associating for future new avenues of
Meeting with Shri A K Rakesh, IAS (1989), Additional
business potential.
Chief Secretary, Agriculture, Co-Operation, Animal
Husbandry, Cow Breeding & Fisheries Department,
Govt. of Gujarat
CMD explained HUDCO’s contribution to the State of
Gujarat in the past and also for extending continued
support in the future. DCP explained about the resolution
of default of APMC, Ahmedabad and that HUDCO is
waiting patiently for the receipt of recovery of HUDCO
dues. CMD appreciated the GOGs intervention for
amicable resolution of default of APMC, Ahmedabad by
issuing a Notification and constitution of Committee
for payment of HUDCO dues. In this regard, it was
clarified that as sought by APMC, HUDCO would be Meeting with Shri Ashwini Kumar, IAS (1997), Principal
issuing Conditional NOCs for sale of land parcels for Secretary, Urban Development & Urban Housing
depositing the sale proceeds to HUDCO in the current Department, Govt. of Gujarat
Financial year. Principal Secretary suggested HUDCO to associate in the
various upcoming housing projects of Gujarat Housing
Board in the areas of re-development of existing old
housing schemes, new projects etc. CMD explained that
HUDCO would lend to specific tailor-made financial
products as per the requirements. It was discussed that a
target of Rs.100-200 Crore is assigned to Municipal
Corporations and Rs.5-10 Crore to ULBs for raising funds
through Municipal Bonds. It was also suggested that
HUDCO can chip in for short term financing of ULB
projects and Corporations in near future and also for the
Bond subscription.

Meeting with Smt. Mamta Verma, IAS (1996), Principal
Secretary, Energy & Petrochemicals Department,
Govt. of Gujarat
CMD offered HUDCO’s association for financing power
sector projects in the areas of power generation,
transmission and distribution by offering competitive rate
of interest with flexible terms & conditions for long term
repayment periods. Principal Secretary in response to the
above directed that there would be requirement of
finance in the area of distribution of power sector.

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