Govt. poses $1.9 billion worth infra projects to ADB seeking its financial assistance

The State government has intensified its efforts to seek assistance from the multilateral financial institutions for taking up ambitious projects proposed under the TelanganaRising 2047 vision of Chief Minister A. Revanth Reddy.

The government has accordingly posed projects like metro rail expansion, roads on hybrid annuity model, skill and sports universities and others to a delegation of the Asian Development Bank which called on Chief Secretary K. Ramakrishna Rao on Friday. The Chief Secretary is learnt to have made presentation on prestigious projects like Young India Integrated Schools, Musi rejuvenation and riverfront development project and others which are aimed at transforming the city’s landscape into the global one.

The government, sources said, posed projects worth $1.9 billion to the ADB delegation. Of the total projects, five projects with estimated cost of less than $500 million each have been prioritised, a senior official told The Hindu. The State has already submitted project report relating to Musi rejuvenation project worth close to ₹6,000 crore to the Department of Economic Affairs seeking its permission to raise funding from the multilateral agencies. Of the total projected cost, ₹4,100 crore is proposed to be raised through external funding and the remaining ₹1,800 crore internally. The DEA is learnt to have given its consent for the project after seeking certain clarifications relating to feasibility and sustainability.

The meeting also discussed about projects like procurement of e-buses to the State Road Transport Corporation, providing solar powered pumpsets to agriculture connections under the green energy policy and setting up of sewerage treatment plants as part of Musi rejuvenation and riverfront development project. It was resolved to forge effective coordination between the two sides for expeditiously launching and completing the projects in a timebound manner.