Hyderabad: Unused funds of Hyderabad Metropolitan Development Authority (HMDA) will come handy for the state government to execute the elevated skyway project on the Rajiv Rahadari route.
HMDA has Japan International Co-operation Agency (This full form has to be cleared with reporter) (JICA) funds to the tune of nearly Rs 700 crore which is unused.
“Due to the depreciation of the Indian rupee, Rs700 crore, meant for the Outer Ring Road project, is left unused. The project is nearing completion. JICA has given permission to use of this unused fund for any other project. HMDA has proved its expertise by executing challenging projects like ORR and PVNR Expressway. Given a chance, it is ready execute the proposed skyway project,” an official said.
The estimated cost of the skyway project is pegged at Rs 1,400 crore with more than Rs 700 crore required for land acquisition alone. The government can mobilise Rs 500 crore by auctioning the developed plots, left with a shortage of Rs 200 crore to execute the project.
The 18.5-km-long skyway is from Jubilee Bus Station to Air Force Station in Hakimpet. The six-lane construction will have ramps at Trimulgherry, Alwal , Lothkunta, Thumkunta, etc.
The urban body has written to the government, stating its willingness to take up the project after the formalities on land acquisition are completed. On its part, the government had asked for 100 acres of defence land to construct two skyways on the Rajiv Rahadari and Bowenpally routes.