Revanth Reddy seeks JICA’s financial support for HMR Phase II, Musi projects

Government of India’s foreign debt funding norms are being followed strictly by the Telangana government, says the Chief Minister

HYDERABAD: Chief Minister A Revanth Reddy met top management of Japan International Cooperation Agency (JICA) on Thursday to explore the possibilities for financial support for Hyderabad Metro Rail Phase II, River Musi rejuvenation, radial roads connecting ORR and Regional Ring Road (RRR) and other infrastructure projects.

The Chief Minister met Senior Vice President of JICA Shohei Hara and other senior managers. He informed the JICA team that the Metro Rail Phase II project proposal with an investment of Rs 24,269 crore as a joint venture project between Government of India and Government of Telangana was under active consideration of the Centre.

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The Telangana government sought JICA’s support for a 48 per cent loan component of the project, which is about Rs 11,693 crore. The Indian government’s foreign debt funding norms were being followed strictly by the Telangana government, he said.

Citing the long-standing relationship between JICA and Telangana government, the agency’s Senior Vice President Shohei Hara requested the Chief Minister to pursue the Metro Rail and other eligible projects with the Government of India for JICA’s support.