HYDERABAD: Chief Minister A Revanth Reddy on Monday said the state government was prepared to execute Hyderabad Metro Rail Phase-2 with 100% equity and urged the Centre to immediately issue a no objection certificate (NOC) for the project.
Revanth told reporters at the Secretariat that this was possible by the state government taking a loan from the Indian Railway Finance Corporation (IRFC).
Recalling that an MoU had been signed between IRFC, HMRL and L&T for refinancing `13,600 crore linked to the takeover of Metro Phase-1, Revanth said the amount, due for disbursal on June 15, had not been released and alleged that Union Minister G Kishan Reddy was behind the delay.
“Kishan met Union Urban Development Minister Manohar Lal Khattar on May 20 and Union Railway Minister Ashwini Vaishnaw on May 21 and asked them, ‘If you grant all approvals so easily, should we shut down the BJP in Telangana?’ With this, the Union government is not disbursing the loan amount,” Revanth claimed.
Alleging that Kishan was acting at the behest of BRS leaders K Chandrasekhar Rao and KT Rama Rao because of “collusion politics”, Revanth claimed, “KTR and KCR conspired and Kishan is executing.”
Questioning why the Union minister had surrendered to KCR, he added, “We respect Kishan, but we are frustrated with him now.” He alleged that the development of the Warangal airport had slowed after Kishan met Civil Aviation Minister K Rammohan Naidu and accused him of falsely claiming that the Centre had agreed to bear 50% of the cost of Metro Phase-2.
Revanth questions delay in IRFC loan transfer
“If the Union government has agreed, show the proof,” Revanth demanded.
Stating that Metro Phase-2 works can begin only after the takeover of Phase-1, he reiterated that IRFC should release the `13,600-crore loan. He added that the state had secured refinancing through IRFC at 4% interest, compared to 8.25% on L&T Metro’s existing bank loans.
Questioning the delay in the loan transfer, he said, “We have already paid `1,400 crore. We submitted the Reserve Bank’s approval and furnished the state government’s guarantee, yet the loan transfer was blocked.”
Arguing that Metro expansion would benefit constituencies represented by four BJP MPs, including Kishan, Revanth asked why the Centre was stalling the Hyderabad Metro loan despite approving `3.15 lakh crore in loans through PFC and IRFC during the BRS regime.
Accusing the Centre of discriminating against Telangana by approving Metro projects elsewhere while keeping Hyderabad’s proposal pending, he said, “We are not politicising the issue. Our goal is to take over the Metro Phase 1 and complete Phase 2.”
Responding to BJP leaders’ demand that he resign, Revanth challenged PM Modi to do the same, saying, “I have a comfortable majority and am not dependent on anyone. I am ready to resign if Modi dissolves his government and seeks a fresh mandate. He promised two crore jobs a year and `15 lakh from black money for every citizen. None of these promises has been fulfilled.”
