Telangana seeks Japan International Cooperation Agency funding for phase 2 of Hyderabad Metro Rail, Musi rejuvenation

Hyderabad: The Telangana delegation to Japan, led by chief minister Revanth Reddy, held discussions with the Japan International Cooperation Agency (JICA) on Thursday in a bid to secure funding for flagship projects in the state such as phase 2 of the Hyderabad Metro Rail, the Musi rejuvenation project, and radial road connectivity between the Outer Ring Road (ORR) and Regional Ring Road (RRR).
The CM, accompanied by senior officers of Telangana, met the senior vice-president of JICA, Shohei Hara, and other senior managers. The CM gave a detailed overview of the investor-friendly policies of the Telangana govt, highlighting Hyderabad as a global investment destination and the large-scale infrastructure projects being undertaken in the city and its surroundings.
Revanth Reddy informed the JICA team that the proposed second phase of HMR, with an investment of 24,269 crore as a joint venture between the Government of India and the Government of Telangana, was already under active consideration of the central govt. The Telangana govt is keen on JICA's financial support for the 48% loan component of the project, which amounts to about 11,693 crore. He also explained that the Indian govt's foreign debt funding norms were being followed strictly by the state govt.
The CM said the Telangana govt wants to develop Hyderabad on par with global cities like New York and Tokyo, and sought JICA's funding for the Musi rejuvenation project and the planned radial roads as well. Citing the longstanding relationship between JICA and the Telangana govt, JICA senior vice-president Shohei Hara requested the CM to pursue the metro rail and other eligible projects with the Government of India for JICA's support.
Telangana special chief secretary, Industries & IT, Jayesh Ranjan, the CM's principal secretary V. Seshadri, Metro Rail MD NVS Reddy, and HMDA commissioner Sarfraz Ahmed participated in the discussions.