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CM Revanth holds meeting with Japan company over expansion of metros in city
Hyderabad: The Revanth Reddy government has initiated the expansion of the Hyderabad Metro Rail 70 km metro expansion works are being carried out on...
Hyderabad: The Revanth Reddy government has initiated the expansion of the Hyderabad Metro Rail 70 km metro expansion works are being carried out on all six lines. These works require huge funds. In this context, the state government is in consultation with the Japan International Cooperation Agency (JICA).
According to preliminary estimates, the metro expansion works will cost Rs. 17,500 crore. Generally, the state government spends 35 per cent and the Central government spends 15 per cent of the funds for such projects. The remaining 50% of the funds will be provided in the form of loans. However, this time the state government is leaning towards a new model. Out of 50 per cent, 5 per cent is going to be given to Public Private Partnership (PPP). The remaining 45 percent funds are planned to be borrowed for long term.
Chief Minister Revanth, Deputy CM Mallu Bhatti Vikramarka and senior officials held talks with JICA India chief and representatives. JICA has also allocated Rs. 1.07 lakh crores loans have been sanctioned. Officials say that interest on JICA loans does not exceed 2 or 3 per cent.
