GHMC plans Rs. 3,500-cr SRDP project

Adding to the road infrastructure network in the city, the Greater Hyderabad Municipal Corporation (GHMC) has decided to execute Rs 3,500 crore worth Strategic Road Development Program (SRDP) project. The mega project will be in addition to the other developmental works planned for the next financial year, said, Commissioner B Janardhan Reddy, elaborating that to finance the project Rs 1,000 crore revenue would be generated through issue of municipal bonds and the remaining portion of the financing worth Rs. 2,500 crore to be generated through loans from financial institutions. He further added that the corporation is also planning to expedite other works under SRDP for which the revenue sources to the tune of Rs 426 crore would flow form 14th finance commission grants and Rs 500 crore sought from State government for road works in addition to the funds sanctioned to Hyderabad Road Development Corporation. Funds worth Rs 533.50 crore are likely to be received from both the state and central governments before the end of this financial year.