This was informed to a visiting Central team by District Collector Neetu Prasad today.
The Rs 507 crore figure was arrived at after assessing damage caused by the cyclone to paddy crops, horticulture, roads, buildings, power infrastructure and other facilities, she said.
The team was led by K K Pathak, Joint Secretary in Union Home Ministry, and consisted of officials from Ministries of Transport, Agriculture, Power and Central Electricity Authority.
The high-level team was here to take stock of the losses caused by the cyclone in the coastal district. It later left for Visakhapatnam, which was the worst affected district.
The team visited areas under U Kothapalli, Thondangi and Tuni mandals where large-scale damage was caused to crops and infrastructure facilities, an official release said here.
The visiting officials interacted with farmers and later saw a photo exhibition which depicted the devastation caused by Hudhud. The team will submit a report to the Central Government.
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