Telangana, JICA hold positive discussions for financial support for Metro Rail, Musi and Radial Roads

The official TelanganaRising delegation led by Chief Minister Shri A. Revanth Reddy held positive discussions with the top management of the Japan International Cooperation Agency (JICA) here on Thursday to explore the possibilities for financial support for several flagship urban transformational projects including the Hyderabad Metro Rail Phase 2, River Musi rejuvenation, Radial Roads connecting ORR and Regional Ring Roads (RRR), and other infrastructure projects.

Accompanied by senior officers of Telangana government, Chief Minister 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 2 project proposal with an investment of Rs 24,269 crore as a joint venture project of Government of India and Government of Telangana was already under active consideration of Government of India.

The 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 Mr Shohei Hara requested CM Reddy to pursue the Metro Rail and other eligible projects with government of India for JICA’s support.

Telngana Special Chief Secretary, Industries & IT Mr Jayesh Ranjan, CM’s Principal Secretary Mr V. Seshadri, Metro Rail MD Mr NVS Reddy, Hmda Commissioner Mr Sarfraz Ahmed, CM’s Secretary Mr B Ajith Reddy and other senior officers of Telangana participated in the discussions.