HYDERABAD: The state government permitted Municipal Administration and Urban Development department to raise loans of `1,500 crore for the beautification of Musi river.
Officials in the Municipal Administration department told Express on Monday that the State Cabinet has approved in its recent meeting to raise `1,500 crore loan for the ‘River Front Development Corporation of Musi’ for beautification of the river.
The state government has already allotted `500 crore for the corporation in the Budget. “A nationalised bank has come forward to give `1,500 crore loan,” an official said.
With this `2,000 crore money, the state will develop Musi in four reaches. Proposed reaches are: From Bapu ghat to Esa, from Esa to Moosarambagh, Moosarambagh to Nagole and from Nagole to Outer Ring Road (ORR).
“We will treat Musi water and ensure continuous flow of water in river and built parks on banks of Musi. We will show some result by December, 2018,” the official said.