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Japan bank loan for ORR
Posted by Srini Uppala | December 1, 2007 | 272 views
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Loading ...The state cabinet on Saturday cleared a proposal to obtain a loan of Rs 2,422 crore from the Japan Bank for International Cooperation (JBIC) for Outer Ring Road (ORR) phase II works from Patancheru to Pedda Amberpet via Medchal and Ghatkesar covering a distance of 71.3 kms. The tentative project cost is Rs 3,187 cr. According to information minister A Ramnarayana Reddy, the JBIC mission in principle agreed to extend the loan assistance. The first agreement is likely to be concluded by February 2008 for the three packages from Patancheru to Shamirpet. For the balance three packages, JBIC will sanction the loan on a fast track by September 2008.
According to the minister, with this assistance the entire ORR project would be completed.
The phase I from Gachibowli to Shamsabad was taken up at a cost of Rs 699 crore in 2006 with a loan from a consortium of banks. The phase II from Narsingi to Patancheru and Pedda Amberpet to Shamshabad costing Rs 2,439 crore would be taken up under the private public partnership model on build operate and transfer basis, and works would begin in December 2007, he added.
Among other decisions taken at the cabinet meeting is to establish three Rajiv Gandhi technology universities in Hyderabad, Nuzivedu in coastal Andhra and Idupulapaya.
The cabinet also cleared a long pending proposal to take up three eco tourism projects in Kothaguda Reserved Forests in Ranga Reddy district under the public private partnership mode to create environmental awareness among the people. The proposed project would include botanical gardens, night safari and bird park. It would come up in an area of 270 acres of reserved forest at an estimated cost of Rs 292 crore and would be known as Kotla Vijayabhaskar Reddy ecotourism project.
SOURCES:
Times of India
Topics: Govt In Action, Infrastructure |
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