Hans News Service Hyderabad

ChiefMinister A Revanth Reddy appealed to Union Minister for Coal G Kishan Reddy to ensure that the sanctioned IRFC loan to Hyderabad Metro Rail Phase-1 is disbursed without further delay, and that Hyderabad Metro Rail Phase-II receives all necessary approvals at the earliest.

In an official letter to the Union Minister, the Chief Minister also requested to arrange a meeting with Railway Minister Ashwini Vaishnaw to discuss the release of the IRFC loan and metro rail expansion, along with the relevant agreement and supporting documents so that any concerns or issues can be clarified and the matter resolved expeditiously.

The Chief Minister brought to the attention of Kishan Reddy that, as per the executed financing agreements, the first tranche of the loan from India Railway Finance Corporation Limited (IRFC) was scheduled for disbursement on June 15. Despite the state government fulfilling all conditions precedent, and paying Rs 784.32 crore as the upfront fee demanded by it, IRFC has not made the disbursement. Revanth Reddy stated in the letter that he is ready to give clarification regarding the takeover transaction, the signed agreement, or the proposed Phase-II expansion, and will be available to meet personally at any convenient place and time.

The Chief Minister said that the government complied with every requirement, executed every agreement, and fulfilled every condition demanded by the lender, making the state government entitled to expect timely disbursement.

Continued on Page 7