GHMC Gets Rs 2,654 Crore Boost for H-CITI Infrastructure Projects
The total borrowing reached Rs 4,250 crore, including rupee term loans, only to execute SRDP works. The GHMC pays Rs 30 crore per month just as interest.
Hyderabad: The GHMC has received Rs 2,654 crore financial assistance to execute infrastructure works, including constructiong of flyovers and underpasses, for the Hyderabad City Innovative and Transformative Infrastructure (H-CITI) project.
The budgetary release order was for two quarters, up to September. On Friday, Rs 1,327 crore was adjusted to the GHMC personal deposit (PD) account.
This is in contrast to the approach of the previous BRS government, which used to direct the GHMC to take rupee term loans, float bonds and raise money to build flyovers, underpasses, road underbridges (RuBs) and road overbridges (RoBs) as part of the Strategic Road Development Plan (SRDP).
The total borrowing reached Rs 4,250 crore, including rupee term loans, only to execute SRDP works. The GHMC pays Rs 30 crore per month just as interest.
“With the release of funds, we are able to clear debts and dues including payment of contractors, besides taking up major works,” a GHMC official told Deccan Chronicle.
In December last, the state government had accorded administrative sanction of Rs 5,942 crore for the H-CITI project. Following this, the GHMC invited tenders for 23 projects.
In addition to flyovers, underpasses, RoBs and RuBs, the corporation will take up junction improvements, build infrastructure for pedestrians and execute works for smooth flow of traffic.