The Andhra Pradesh government has green signaled for metro rail project to Vizag and steel plant to Kadapa district. Irrespective of the moral and financial support from the central government, the AP government wants to go ahead with these two projects which are in pending for the past couple of years.
In the cabinet meeting, CM Chandrababu Naidu has informed his colleagues that South Korea has come forward to back the metro project with accumulating financial resources to tune up to Rs 4200 crore for a period of 20 years. This metro project will be built in Public Private Partnership (PPP) method in three corridors which would stretch up to 42.55 kilometres.
While the total budget of metro project would cost about Rs 8300 crore and government is planning to gather 83 acres of its own land and 12 acres of private land through land-pooling policy.
The AP cabinet also nodded for setting up of new Anna canteens across the state. A total of 366 Anna canteens are going to be established under the supervision of Anna Canteen Charitable Trust.
The much-talked Kadapa Steel Plant is estimated to cost Rs 15,000 to Rs 18,000 crore and the government is mulling to take loan from banks. With availability of iron ore, the cabinet opined that banks would certainly lend such a huge amount.