K-water Likely to Fund Rs 10K Cr for Water Grid

By: V. V. Balakrishna

In a significant step towards the proposed Telangana water grid project, a team from Korea will call on IT and panchayat raj minister KT Rama Rao on Thursday. Korean Water Resources Corporation (K-water) is likely to fund Rs 10,000 crore for the state’s drinking water projects, besides adopting a major grid coming up in Mahbubnagar district as part of the project.

Already, Housing and Urban Development Corporation (HUDCO) offered Rs 10,000 crore and National Bank for Agriculture and Rural Development (NABARD) has offered Rs 5,000 crore for the Water Grid programme. Besides, the state government provided Rs 6,000 crore in the 2015-16 Budget for the same. A whopping Rs 35,000 crore is required for the completion of the Water Grid programme, which aims to supply piped water to all the households in the state. So, far the state government received commitments for Rs 15,000 crore and the Budgetary provisions included it would come up to Rs 21,000 crore.

If the Korean company’s offer is finalised in Thursday’s meeting the Water Grid project would get Rs 31,000 crore funds. The Water Grid programme is likely to be completed in the next four years. “The Korean team will call on Rama Rao on Thursday. The minister will discuss with them about the terms and conditions for getting loan. The K-Water has almost agreed to adopt the major grid in Mahbubnagar district,” sources in panchayat raj department told Express.

Sources said that there was no dearth of funds for the completion of Water Grid programme. Chief minister K Chandrasekhar Rao vowed not to seek votes again in the next Assembly elections, if the Water Grid was not completed.

Funds for Water Project

  • K Team to offer Rs 10,000 crore loan
  • K-Water to adopt one Grid in Mahbubnagar district
  • Nabard offers Rs 5,000 crore
  • Hudco offers Rs 10,000 crore
  • Budget provision of Rs 6,000 crore
  • Water Grid requires Rs 35,000 crore

Source: The New Indian Express

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