Musi project: ADB final approval yet to come, admits Sridhar Babu

Industries Minister D Sridhar Babu said the Asian Development Bank is yet to approve the Musi Rejuvenation project but is largely satisfied. The Telangana government is exploring multiple funding options, including PPP mode, to take the project forward

Hyderabad: Admitting that the Asian Development Bank (ADB) was yet to accord final approval for the Musi Rejuvenation project, Industries Minister D Sridhar Babu claimed that the ADB was largely satisfied with the project.

“The ADB is evaluating the DPR submitted by the government and final approval is expected after its next board meeting,” he said during Question Hour in the Assembly on Wednesday. The Minister, who was replying on behalf of Chief Minister A Revanth Reddy, further said the government would explore different avenues to raise funds and execute the project. For example, if the ADB does not get convinced, the government can approach other organisations or plan to execute the Musi project in Public Private Partnership (PPP) mode, he said.

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“The government will explore all possibilities, including private financial organisations, PPP mode or public institutions,” Sridhar Babu said.

Defending the State government’s decision to rope in Meinhardt for the Musi project, the Industries Minister said the company had executed many projects in India. Similarly, the company had taken up projects in Singapore, Qatar and Saudi Arabia as well, he added.

“As of now, the Central government has not banned or blacklisted this company. Considering all these factors, the company was taken on board,” Sridhar Babu said.