Hyderabad: Telangana Chief Minister A Revanth Reddy on Monday accused Union Minister G Kishan Reddy of creating hurdles for the disbursement of a Rs 13,600 crore refinancing loan by the Central PSU IRFC for the Hyderabad Metro Rail project.
He also alleged that the Union Minister was acting under the influence of Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR).
The BJP and BRS are making a conspiracy together to derail the project as it would be politically disadvantageous for the two parties if the state government completed the project, he alleged.
CM Reddy said the state government has paid Rs 1,400 crore in 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 rate of four per cent, whereas former CM K Chandrasekhar Rao (KCR) and even the Centre led by Prime Minister Narendra Modi got loans at interest rates 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 have been after Kishan Reddy all these days,” he told reporters here.
Monday (June 15) is the last day for loan disbursement, and whether Kishan Reddy would get the Rs 13,600 crore loan disbursed or not, the CM asked.
The IRFC had put a condition that the RBI should also stand as guarantor for sanctioning the loan of Rs 13,600 crore, which was also complied with, he said.
The CM further said that he had submitted a letter to Khattar during his recent visit to Delhi offering that the state government would take up the proposed second phase of the metro rail project if the Centre is hesitant to take a 50 per cent share.
He had to submit the letter after Central officials expressed reservations over running the first phase and developing the second phase. He sought a No Objection Certificate (NOC) from the Centre for this proposal, the CM said.
His offer put the union government in a spot, as there would be no debate about the Centre, PM Modi and Kishan Reddy if the state government took up the metro construction entirely on its own.
He said the second phase of the metro project can be taken up only if the state government completely takes over the first phase.
He asked whether Kishan Reddy would take responsibility for the disbursement of the loan by IRFC and whether the Centre would join the proposed second phase of the metro rail project as a 50 per cent equity partner or at least give an NOC for the state government to take up the second phase on its own.
He said he is questioning Kishan Reddy as the former is the sole Union Cabinet Minister from Telangana.
“I met Union Minister Ashwini Vaishnaw. I spoke with him thrice. I don’t want to disclose (what he said). But my problem is this (disbursement of the loan). Kishan Reddy has to address this problem,” he said, when asked whether he met Vaishnaw.
The CM, who alleged that the Centre’s discrimination towards the state is continuing, also claimed that the proposal of establishing an airport at Warangal is not moving at a quick pace after Kishan Reddy met Civil Aviation Minister K Ram Mohan Naidu.
While metro projects in Ahmedabad and Visakhapatnam have been sanctioned by the Centre, the progress of the Hyderabad metro is halted, he said.
The CM said he has documents on the matter and is ready to give them to Kishan Reddy.
The Telangana government on May 25 secured a Rs 13,600 crore refinancing agreement from IRFC for the 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.
Meanwhile, BRS and BJP hit out at CM Reddy over his remarks, blaming that the two parties for the Centre not approving the expansion of Hyderabad Metro Rail and stalling refinancing loan for the project.
Rama Rao alleged in a statement that the Centre not approving the second phase is a glaring example of the Congress government’s administrative incompetence and inability to safeguard Telangana’s interests.
The BRS leader claimed that the chief minister “lacks the courage to question” PM Modi and the Centre due to political compulsions arising from the alleged “cash-for-vote” case (pertaining to allegations of Revanth Reddy trying to bribe a nominated MLA in 2015 to win an MLC poll) pending against him.
State BJP chief spokesperson N V Subhash said the CM is making cheap allegations against Kishan Reddy and the Modi government only to divert public attention from his own government’s failures.
Subhash said it was the Modi government that provided Rs 1,200 crore in Central funds during the first phase of the Metro project and made the 69 km line operational under the PPP model, which was inaugurated by PM Modi.
Follow on Twitter | Posted by Veena Nair | | 
