Kishan Reddy refutes stalling IRFC loan for Hyderabad Metro

Hyderabad: Responding to Chief Minister A Revanth Reddy’s accusation that the Centre was blocking the loan being sought by the state government from the Indian Railway Finance Corporation (IRFC) for Hyderabad Metro, Union Coal and Mines Minister G Kishan Reddy said that the release of Rs 13,600 crore in refinanced loan had some technical issues involved, which the state government needed to resolve by sitting with the Centre across the table.

Speaking with the media in Hyderabad on Tuesday, June 16, Kishan Reddy disclosed that the Centre had contributed Rs 1,200 crore for the Hyderabad Metro Rail Project’s Phase 1.

On Revanth Reddy’s allegations, the Union Minister felt that the former was resorting to a blame game to cover up his failures.

Kishan Reddy added that it was the Modi government that sanctioned the Zaheerabad Industrial Smart City, NTPC Thermal Power Plant and was also procuring paddy from Telangana.

“The central government is committed to the development of Hyderabad, irrespective of which political party is in power. We will not show any bias,” he said.