ADB gives nod to extend ₹4,100 cr loan to Musi river development: Minister

The Asian Development Bank (ADB) has in principle agreed to extend ₹4,100 crore ($500 million) to the Telangana Government for some parts of phase-I of Musi River Development Project, Minister D Sridhar Babu said on Friday.

Replying to a query during the question hour in the Assembly, Sridhar Babu said the state government has also sent a preliminary project report to the Ministry of Jal Shakti seeking Rs 3,188 crore under the National River Conservation Plan for the Musi river project.

"The entire project has been divided into five zones. DPR for Zone I is in progress. Of the total 55 Km in Zone-I, 21 Km in the first phase is being undertaken by Musi Riverfront Development Corporation (MRDCL). Asian Development Bank (ADB), in principle, agreed to extend a loan of Rs 4,100 crore ( USD 500 million)," the Industries Minister told the Assembly.

 

A consortium of Singapore's independent engineering firm Meinhardt, as a lead member and Cushman & Wakefield India, and RIOS design Studio has been appointed to prepare a comprehensive detailed project report, he further said.

Chief Minister A Revanth Reddy had earlier said the state government has plans to develop Bapu Ghat, a memorial of Mahatma Gandhi, as part of the Musi River redevelopment project.

The Musi River, originating in the Ananthagiri Hills, flows eastward into Osmansagar and Himayatsagar reservoirs, which have served as Hyderabad's main water sources for over a century.

The Telangana government had earlier created a special purpose vehicle (SPV) for the abatement of pollution of the Musi River and to facilitate its Riverfront Development to improve hygienic conditions and environs.

The primary objective of MRDCL is to improve the ecological, social, and economic aspects of the Musi riverfront by undertaking various development activities.