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Andhra CM Wants Japanese to Fast-track Loans for Amaravati Metro Rail

State, Central govts to share 40 per cent of the cost while JICA to extend loan for the remaining 60 percent.

Published: 25th February 2016 07:14 AM  |   Last Updated: 25th February 2016 07:14 AM   |  A+A-

VIJAYAWADA: Chief Minister N Chandrababu Naidu requested  Japan International Cooperation Agency (JICA)  to expedite the loan sanctioning process, so the works pertaining to Amaravati Metro Rail can be grounded at the earliest.

Interacting with JICA delegation, led by Yasunori Takahashi that met him at his office on Wednesday, Naidu said the first phase of Amaravati Metro Rail project with a total 25.76 km length is estimated to cost `5,705 crore and thanked JICA for coming forward to partially fund the project.

When JICA team explained to him that it would take a minimum 15 months for them to complete the funding process, Naidu wanted it to be completed in four to five months time.

Assuring to take care of any problem that JICA expects to face in the state, he said where there is a will there is way. He reminded that state government had successfully interlinked two mighty rivers — Krishna and Godavari in just five months.

Expressing his desire to see the Japanese companies opening their offices in the new capital city Amaravati, the Chief Minister said Japan and Andhra Pradesh share good relations for years now.  He said Japan has technology and Andhra Pradesh has a market for it. He said economy of the state is also improving as evident from the growth rate of 10.5 percent which is higher than national average of 7.2 percent.

State Government and the Centre will be equally sharing 40 percent of the cost of the metro project, while JICA had come forward to extend loan for the remaining 60 percent. The State Government has asked JICA for sanctioning `4,000 crore for the project. It was JICA which had lent for metro projects in Delhi, Bengaluru, Kolkata and Chennai.  JICA team will again meet the Chief Minister in April.

Earlier, JICA team held meeting with Krishna collector Babu A, who informed them that required land for Amaravati Metro Rail project will be allotted  in one month time. He said GO 262 will enable them to acquire the needed land more easily.

He explained how Chief Minister’s proactive approach in regard to  land for the Polavaram Right Main Canal in the district was solved and assured the Japanese delegation that the displaced are being compensated by paying the market price for the land being acquired.  He said a government appointed agency will conduct the socio-economic survey before the land acquisition as per the laid down guidelines.

Amaravati Metro Rail Corporation (AMRC) MD N Ramakrishna Reddy, project director Radhakrishna and others were present.

Amaravati is 8th Wonder: Naidu

Vijayawada: Chief Minister N Chandrababu Naidu termed Amaravati the eighth wonder of the world and sought the help of the noted architects across the world. In a video conference with architecture and construction experts from across the world, Naidu unveiled his vision for the new capital, which he said will not be confined to administrative activity, but will be a centre of economic activity and most importantly, it will be people’s capital. The new capital city will boost of eco-friendly transport system, water taxies on wide canals, space for walking and cycling. Richard Rogers from London, Makia from Japan and BV Doshi from Rajasthan were among those who attended the video conference. CRDA commissioner N Srikanth said design competition for finalising the architects for Secretariat, Assembly, Raj Bhavan, Central Government buildings, residential quarters of ministers, people’s representatives in 900 acres will be held on March 22, 23 and 23.

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