Hyderabad: In a surprise move, the Telangana government has allotted 9,99,994 equity shares of Rs 10 each to the governor in the Musi Riverfront Development Corporation.
For the development of the river, the state government has constituted a Special Purpose Vehicle (SPV) in the name of Musi Riverfront Development Corporation with Rs 100 lakh as paid-up capital. The state government has divided this money into 10,00,000 equity shares of Rs 10 each.
In this, the chief secretary, the principal secretaries of municipal administration and finance departments, the GHMC commissioner, the Hyderabad metro water board managing director and the HMDA commissioner were given one share each, and the remaining shares were allotted to the Governor.
In the orders, the state government has said the secretary to the municipal administration will act as managing director of the Musi riverfront development corporation and is authorised to sign the form for incorporation on behalf of the state government.
The principal secretary to the governor is authorised to sign on behalf of/and to represent the governor in the meetings of the company. The state government has nominated some senior IAS officers as initial directors of the Musi riverfront development corporation.
The state government has nominated the chief secretary as chairman and 8 other officers as its members. The main objective of the Musi riverfront development corporation is abatement of pollution of River Musi and riverfront development.
The Hyderabad metropolitan development authority (HMDA) has taken up the preparation of a Detailed Project Report (DPR) for conservation and development of Musi riverfront from Osmansagar and Himayathsagar to Bapughat in one stretch of 21km distance, and from Nagole to Gowrelli in another stretch of 15km.
For this, the HMDA had engaged a consultancy for feasibility study. The consultancy has submitted the report which has been forwarded to the state government for approval. Musi riverfront development includes river cleaning, landscape development, sewerage system, walkways, water pools, bridges etc.
Pilot Project at Bapughat: The proposal is to develop the Musi riverfront at the confluence of ESA and Musa River near Bapughat as a pilot project under Public Private Partnership (PPP) mode. A total area of 60acres which is under the control of HMDA and the Telangana state tourism is available to develop the riverfront with a retention of water pool at the confluence, landscape, boating, walkway bridges, amphitheatre etc to attract tourists.
HMDA has also taken up riverfront development on one side of the Musi river for a length of 2.2km along the stretch of the Uppal Bhagat layout.
