New Delhi, June 23: Telangana Chief Minister A. Revanth Reddy and Union Minister of Coal and Mines G. Kishan Reddy met with Railway Minister Ashwini Vaishnaw on Monday. The meeting took place in New Delhi, where they discussed loan-related issues concerning the Hyderabad Metro Rail project with the Indian Railway Finance Corporation (IRFC).
According to a statement released by the Chief Minister’s Office (CMO) on Monday night, the discussions were positive. Speaking to the media after the meeting, the Chief Minister described the conversation with the Railway Minister as constructive.
He also announced plans to meet with Union Minister for Housing and Urban Affairs, Manohar Lal, for further discussions on the matter on Tuesday morning.
The meeting between Revanth Reddy and Ashwini Vaishnaw occurred just a week after the Chief Minister requested the immediate release of ₹13,600 crores for refinancing the first phase of the Hyderabad Metro Rail project. This project was acquired by the state government from Larsen & Toubro Limited.
The Chief Minister also sought clarification from the Centre on whether it would participate in the second phase of the Hyderabad Metro project. He appealed to Prime Minister Narendra Modi, Minister Kishan Reddy, and MP Etala Rajender to intervene and ensure that Telangana receives its fair share.
According to Revanth Reddy, the ₹13,600 crore loan was secured from a Japanese company at a 4% interest rate and needs to be transferred to the state government through the IRFC. He claimed that a Japanese agency had already released the funds to the IRFC, but the corporation had not yet transferred them to the state government.
He mentioned that they had submitted a letter for Reserve Bank approval, yet the loan transfer was still halted. He accused Kishan Reddy of being responsible for the delays in releasing the funds.
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