Telangana government gets Rs 3,514 crore REC loan for irrigation projects

HYDERABAD: Telangana government has received Rs 3,514.67 crore as loan from Rural Electrification Corporation (REC) to take up the civil works of three major irrigation projects. The REC has sanctioned the additional loan of Rs 3,514.67 crore to the Telangana State Water Resources Infrastructure Development Corporation Limited (TSWRIDCL).

Of the total sum, Rs 804.28 crore has been sanctioned for Indiramma Flood Flow Canal (IFFC), while Rs 1,485.20 crore has been given for J Chokkarao-Devadula Lift Irrigation Scheme (JCRDLI). Both of these projects are expected to be ready by April 1, 2022. Meanwhile, Sita Rama Lift Irrigation Project has been sanctioned Rs 1,225.196 crore.

As per the revised deadline, works for this project will be completed by April 1, 2023. The State government accorded permission to seek loan from REC, considering the allied civil works of EM & HM, GST, price escalation and change in scope of items for the three projects. The government will give the guarantee for the loan. The repayment of loan will be done across 12 years in 48 equal quarterly installments.