AP Govt to mobilise funds through Special Purpose Vehicle

Amaravati: The State government will mobilise funds for construction of Polavaram Project through a Special Purpose Vehicle (SPV). Chief Minister N Chandrababu Naidu asked officials to set up a separate corporation to mobilise funds for the continuation of project works on Monday during a review meeting on it at secretariat.

The officials informed the Chief Minister that the State government can carry out the transactions of borrowing funds through Water Resources Development Corporation and reimburse the amount whenever the Central government releases funds. 

Chandrababu Naidu conducted a review meeting on progress of Polavaram Project works at the Secretariat at Velagapudi on Monday. The officials said that 58.77 per cent of works were completed so far.

The Chief Minister directed the officials to speed up works to clear the backlog as rainy season came to an end and the Godavari floods receded and to see that major portion of the works were completed by December.

The officials said 78.20 per cent works of spillway, spill channel, approach channel, pilot channel and left flank were completed. They said 39.20 per cent of concreting works including spillway, stilling basic and spill channel were completed so far.

Coming to radial gates, 61.85 per cent of works were completed and 100 per cent of diaphragm wall works were completed. As many as 48 number of radial gates have to arranged for the project. The Chief Minister asked the officials to speed up the left main canal works and R&R package to displaced villagers in both East and West Godavari districts.

When the officials and contractors informed over the delay in works due to rainy season, the Chief Minister directed the officials to complete the backlog works and see that all the major earth and concrete works were completed by December.

The Chief Minister enquired with the officials over clearances pending with the Central government and asked them to make efforts to get necessary clearances immediately. Minister for Water Resources Devineni Uma Maheswara Rao, Irrigation Secretary Sasibushan Kumar, ENC M Venkateswara Rao and others were present.