Revanth Reddy Vision: Telangana CM is Looking for Foreign Funds for Telangana’s Infrastructure Development. Telangana Chief Minister A Revanth Reddy has held meetings with Japan International Cooperation Agency (JICA). Senior officials on Thursday sought funds for key Hyderabad infrastructure projects. The meetings were to seek aid for Hyderabad Metro Rail Phase II, River Musi redevelopment. And radial roads between the Outer Ring Road (ORR) and the Regional Ring Road (RRR).
One of the key highlights from the meeting included the Hyderabad Metro Rail Phase II project. This has been valued at ₹24,269 crore and is set to be developed as a joint venture between the Government of India and the Government of Telangana. There was optimism regarding central clearance on the project from the Chief Minister. Once more underscoring the importance the project holds as it will provide an improvement on the public transportation of Hyderabad.
To facilitate the financing, the Telangana government approached JICA to finance a 48% loanable component to the tune of ₹11,693 crore. Reddy assured the JICA delegation that Indian standards of financing foreign debt were being followed in letter and spirit, and as much emphasis was laid on transparency and financial discipline.
Apart from Metro Rail expansion, the Telangana government is keen on restoring River Musi. A vital water body which has to be eco-restored and upgraded. Further, improvement of radial roads between ORR and RRR will improve connectivity and urban mobility, putting Hyderabad’s transport infrastructure on a more efficient footing.
Valuing the close association between Telangana and JICA. Senior Vice President Shohei Hara appreciated the state’s vision in city planning and infrastructure. He also warned the Chief Minister that she would have to coordinate with the Government of India to obtain the project clearances before a decision regarding JICA’s assistance.
Also Read: Revanth Reddy in Tokyo: Meets Sony Group at India House
Since the infrastructural development of Hyderabad is under threat, the Telangana government remains interested in foreign investments. Metro Rail Phase II and River Musi face-lift projects would also make Hyderabad a vibrant urban city if JICA financial support becomes a reality. Revanth Reddy Vision for hyderabad development is making people happy.
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