Revanth Reddy accuses Union minister of blocking metro loan
Telangana Chief Minister A Revanth Reddy on Monday accused Union Minister G Kishan Reddy of creating hurdles for the disbursement of `13,600 refinancing loans' by the Central PSU IRFC for the Hyderabad Metro Rail project.
He said the State Government has also paid Rs 1,400 crore margin money and a processing fee of Rs 84 crore to the Indian Railway Finance Corporation (IRFC) for the loan disbursement.
The State Government secured the loan at an interest of four per cent, whereas former CM K Chandrasekhar Rao and even the Centre led by Prime Minister Narendra Modi got loans for interest in the range of 8-11 per cent, he claimed. He also said IRFC is like an intermediary in the loan, as the original loan is provided by Japan.
“Kishan Reddy met Union Urban Affairs Minister Manohar Lal Khattar on May 20 and Railway Minister Ashwini Vaishnaw on May 21 and told them that if you facilitate work so easily for Revanth Reddy, it would be difficult for the BJP to continue in Telangana. Because of this complication, the Centre is not disbursing loans. That’s why I am after Kishan Reddy all these days,” he told reporters.
Monday (June 15) is the last day for loan disbursement, and whether Kishan Reddy would get the Rs 13,600 loan disbursed or not, CM Reddy asked. The transaction is between IRFC and Hyderabad Metro Rail Ltd (HMRL) of the State Government, he said. There was no immediate reaction from Kishan Reddy. The Telangana Government on May 25 secured a Rs 13,600 crore refinancing agreement from IRFC for the Hyderabad Metro Rail Project.
L&T Metro Rail (Hyderabad) Ltd and HMRL signed the agreement to this effect in Delhi. The State Government has recently acquired 100 per cent shares of L&T Metro Rail Hyderabad Ltd through the HMRL.
