Telangana, JICA Hold Discussions For Financial Support For Metro Rail, Musi, Radial Roads

The projects include Hyderabad Metro Rail Phase-II, River Musi rejuvenation, Radial Roads connecting Outer Ring Road (ORR) and Regional Ring Roads (RRR), and other infrastructure projects.

Accompanied by senior officers of Telangana government, Revanth Reddy met Senior Vice President of JICA Mr Shohei Hara and other senior managers. He gave a detailed overview of the investor friendly policies of Telangana government, the attractiveness of Hyderabad as a global investments destination and large scale infrastructure projects being taken up in the city and its surroundings.

The Chief Minister informed the JICA team that the Metro Rail Phase-II project proposal with an investment of Rs 24,269 crore as a joint venture project of Centre and Telangana government was already under active consideration of the Central government.

According to Revanth Reddy, Telangana government is keen on JICA support for the 48 percent loan component of the project, which is about Rs.11,693 crore. He also explained that the Indian government's foreign debt funding norms were being followed strictly by the state government.

Explaining his vision for Hyderabad city to be developed on a par with global cities like New York and Tokyo, the Chief Minister urged JICA to consider funding Musi rejuvenation project and the new radial roads as well.

Citing the long standing relationship between JICA and Telangana government, JICA Senior Vice President Shohei Hara requested Revanth Reddy to pursue the Metro Rail and other eligible projects with the government of India for JICA's support.