HYDERABAD: Bank of India sanctioned Rs 1,816 crore loan to Mission Bhagiratha project, CM K Chandrasekhar Rao’s pet project, on Saturday. The funds will be utilised for Mission Bhagiratha works between Srisailam-Vikarabad-Chevella-Tanduru-Parigi and Srisailam-Gudipalli segments.
The Bank of India officials handed over the agreement letters sanctioning the loan for the project to chief secretary SP Singh on Saturday. According to sources, the estimated cost of these works in these two segments is said to be Rs 2,270 crore. Out of which, the Bank of India sanctioned Rs 1,816 crore and the state will give a guarantee for Rs 454 crore. These funds will be used for laying primary and secondary pipelines in the two segments.
Meanwhile, Mission Bhagiratha vice chairman Vemula Prasanth Reddy at a review here on Saturday said that the project was creating a record in the country. Though it was a big project, the works were going on at a lightening speed, he said. The two-day review meeting with SEs and other senior officials of the project was concluded on Saturday