Telangana Requests JICA's Assistance for Metro and River Projects

Hyderabad, April 17 (NationPress) The government of Telangana has formally requested financial assistance from the Japan International Cooperation Agency (JICA) to support significant urban development initiatives, including the second phase of the Hyderabad Metro Rail and the Musi River revitalization.

Chief Minister A. Revanth Reddy, currently on an official visit to Japan, engaged in discussions with JICA's senior management in Tokyo to investigate potential funding for various flagship urban transformation initiatives. These projects encompass radial roads linking the Outer Ring Road (ORR) and the Regional Ring Roads (RRR).

As per the Chief Minister’s Office (CMO), the Chief Minister led a delegation that met with JICA's Senior Vice President Shohei Hara and other high-ranking officials. The Chief Minister presented an overview of the investment-friendly policies of his administration, highlighting Hyderabad as a global investment hub and the extensive infrastructure projects underway in the city and its vicinity.

The Chief Minister informed the JICA representatives that the proposal for the Metro Rail phase 2 project, which involves an investment of ₹24,269 crore through a joint venture between the Central and Telangana governments, is currently under serious consideration by the Central government.

The Telangana administration is particularly interested in securing JICA's support for the loan component of the project, estimated at ₹11,693 crore, which constitutes 48 percent of the total investment. Revanth Reddy emphasized that the Indian government’s guidelines for foreign debt funding are strictly adhered to by the state.

Illustrating his vision for developing Hyderabad to match the caliber of global cities such as New York and Tokyo, the Chief Minister urged JICA to contemplate financing the Musi rejuvenation project and the new radial roads.

Highlighting the long-standing collaboration between JICA and the Telangana government, JICA Senior Vice President Hara encouraged CM Reddy to pursue the Metro Rail and other qualifying projects for JICA's backing with the Centre.

The delegation also engaged with executives from Marubeni Corporation, a prominent Japanese conglomerate with interests spanning energy, transportation, real estate, industrial infrastructure, metals, medical services, and trading.

Following discussions, Marubeni Corp expressed interest in establishing a cutting-edge, next-generation industrial park in the forthcoming Future City near Hyderabad. Both parties signed a Letter of Intent (LoI).

With an initial investment proposal of ₹1,000 crore, the industrial park will be developed over 600 acres in phases within the Future City.

This industrial park will cater to Japanese and other multinational companies for setting up manufacturing facilities in Hyderabad and is anticipated to draw major investments exceeding ₹5,000 crore.

The Marubeni Industrial Park will concentrate on sectors such as electronics, green pharmaceuticals, precision engineering, aerospace, and defense.

The Chief Minister remarked that the industrial park is expected to generate 30,000 jobs, both direct and indirect, thereby enhancing livelihoods and improving the skill landscape in Telangana.

The Telangana delegation also visited the headquarters of Sony Corporation in Tokyo. Officials from Sony presented various new initiatives, including detailed insights into their offerings, such as new products, to the delegation.

Additionally, the group engaged in discussions regarding the animation subsidiary Crunchyroll, highlighting Hyderabad's strengths in animation, VFX, and gaming sectors.

Chief Minister Revanth Reddy articulated his vision for the creation of a modern film city capable of comprehensive production processes.