HYDERABAD: The Hyderabad Metropolitan Development Authority (HMDA) has proposed to mobilise Rs 20,000 crore in the next 18 months through bonds.
The funds are meant for the implementation of major urban infrastructure projects in the city including two elevated corridors, greenfield radial roads, iconic bridge across Mir Alam Tank and flyovers. In the next four months, the HMDA intends to raise Rs 5,000 crore. The HMDA will raise funds by floating bonds since the state government is not in a position to fund its crucial projects.
Recognising the importance of enhancing commuter infrastructure, official sources said that HMDA is actively pursuing the development of infrastructure projects like elevated corridors, greenfield radial roads, and flyovers among others throughout the city.
For this, the HMDA is planning to raise funds through debt markets for capital expenditure and for general corporate purposes. In this regard, it has invited a request for proposal to appoint an advisor cum merchant banker for advising and handling the fund-raising assignment.
The six lane elevated corridor from Paradise junction (at Gymkhana Grounds) to Outer Ring Road (ORR) Junction near Shamirpet on Rajiv Rahadari State Highway-1 covering 18.12 km is planned at a cost of around Rs 3,620 crore while elevated corridor from Paradise junction to Military Dairy Farm Road via Tadbund and Bowenpally junctions on National Highway-44 covering 5.4 km would be constructed at a cost of Rs 1,580 crore.
The government has proposed nine greenfield radial roads to link Hyderabad ORR with the regional ring road (RRR) spanning over 215 kms and expected to cost Rs 2,000-Rs 3,000 crore. The cable bridge and beautification of Mir Alam Tank in Hyderabad are estimated to cost Rs 363 crore.
The bridge will improve the aesthetic view of the area along the water body. The bridge will be 2.65 km long and 22.2 meters wide. The bridge will connect the Bangalore National Highway (NH 44) to Chintalmet Road and will help reduce traffic congestion on the NH-44-Chintalmet route.