Hyderabad outer ring road gets Japanese loan
The Hyderabad Growth Corridor Limited (HGCL), a company created to build the 158-km Outer Ring Road, has secured a Rs 3,055-crore soft loan from the Japan Bank for International Co-operation (JBIC) for Phase II-B of the project.
The 75-km stretch between Patancheru and Pedda Amberpet on National Highway-9 will be developed with Japanese loans in six packages. Initially, only the stretch between Patancheru and Shamirpet was put up for a loan of Rs 1,400 crore.
A high-level JBIC delegation led by its country head, Asaeda, reviewed the ORR project and inspected the work. The JBIC then agreed to extend an additional loan of Rs 1,455 crore under the fast track programme to develop the Shamirpet-Pedda Amberpet stretch.
The JBIC will lend Rs 200 crore under the Related Traffic Management Measures for development of seven radial roads connecting the Hyderabad Inner Ring Road and the ORR. The Rs 3,055 crore loan carries a 1.2 per cent interest repayable in 30 years with a grace period of another 10 years.