Hyderabad: ORR privatised!

Hyderabad: The state government has decided to lease out Nehru ORR (Outer Ring Road) for 30 years to the IRB Infrastructure Developers Ltd.

This would help the government mop up Rs 7,380 crore. The government has issued the letter of award (LOA) to this effect. The award is based on Toll, Operate and Transfer (TOT), according to Special Chief Secretary (MA&UD) Arvind Kumar. He said the 30-year TOT agreement will bring in significant revenue for the state and give a boost to the overall infrastructure development in the region. Under the TOT, the ownership of the asset remains with the state government and will help the government to utilise private sector investment for new infrastructure creation.

Chief Minister K Chandrashekar Rao, the official said, felt that this transaction would give further boost to investment opportunities and open doors for many other infrastructure and state development projects.

Stating that it indicates the confidence investors have in the government, KCR said, adding that this confidence arises from the robust growth of Hyderabad and the pro-investor policies of the BRS government.

Minister for MA&UD and Industries K T Rama Rao said: "The government is committed to promoting private sector participation in the development of public infrastructure. The transaction showcases the potential for lucrative investment opportunities in the state, which is rapidly growing and evolving.

Because of industry-friendly policies and supportive environment, Telangana has emerged as one of the most favourable states for investment, he said, claiming that the state holds immense potential for investors and entrepreneurs alike. It is a prime destination for those seeking to establish or expand their business ventures," he added.