Memorandum of Understanding Details
Execution Date: 17th June, 2026
Execution Location: Gandhinagar, Gujarat
Parties Involved:
- Finance Department, Government of Gujarat (represented by Sandeep Kumar, IAS, Secretary (Economic Affairs))
- Housing and Urban Development Corporation Limited (represented by Sanjay Kulshrestha, Chairman and Managing Director)
Financial Terms
Total Financial Assistance: ₹1,00,000 Crore (Rupees One Lakh Crore)
Validity Period: 2 years commencing from May 2026
Purpose: Financing identified infrastructure projects for overall economic development of Gujarat State
Key Agreement Terms
- Government of Gujarat will facilitate HUDCO to obtain necessary permissions, registrations, approvals, and clearances from concerned state departments as per existing policies/rules and regulations
- HUDCO will provide finance for identified infrastructure projects as per its prevailing guidelines and norms
- Funding will be provided on flexible terms and conditions, including moratorium period and flexible repayment schedule
- The MoU aims to facilitate time-bound financing of projects in Gujarat as per state government rules and regulations
Operational Impact
The agreement covers infrastructure and development projects across Gujarat state, with HUDCO's lending having the potential to create large-scale infrastructure development in the state.