Hyderabad: The Telanganarising delegation led by Chief Minister A. Revanth Reddy held an active discussion with senior executives of the Japan International Cooperation Agency (JICA) on Thursday to explore the possibilities of financial support for several flagship urban change projects.
These projects include Hyderabad Metro Phase II, the restoration of the river Musi River, radial roads connecting the outer ring road (ORR) and regional ring road (RR) and other infrastructure projects.
Revanth Reddy met with Mr. Jica Shohei Hara and other senior managers accompanied by senior officials in the Telangana government. He detailed the investor-friendly policy of the Telangana government, Hyderabad, a global investment destination and a large-scale infrastructure project that is underway in and around the city.
The Chief Minister informed the JICA team that investment in the Metro Rail Phase II project proposal has been 24.269 crore as a joint venture project of the Centre and a joint venture project of the Telangana government and that the central government has been actively considered.
According to Revanth Reddy, the Telangana government is keen to support the 48% loan portion of the project, at about Rs 11,693 crore. He also explained that the state government strictly follows the Indian government’s foreign debt norms.
The Chief Minister explained his vision of the city of Hyderabad being comparable to global cities such as New York and Tokyo, and the Chief Minister urged JICA to consider funding the Musi Rejuewefenation Project and the new Radial Road.
JICA Senior Vice President Shohei Hara cited the long-term relationship between JICA and the Telangana government and asked Revanth Reddy to work with the Indian government to seek support from JICA in Metro Rail and other qualified projects.
