Hyd will become economic nerve centre: PM

Prime Minister Manmohan Singh today visualised Hyderabad transforming into an industrial and economic centre in the country going by its geographical position and the fast pace of development.

Speaking at a public meeting after laying the foundation stone for the first phase of the ambitious Outer Ring Road (ORR) project here at Shamshabad on Tuesday, the prime minister lauded the measures being taken by the state government on the infrastructure front and said that the Centre would fully back all its future initiatives.

"You go ahead with the development projects. Money will not at all be a problem," he assured chief minister Y S Rajasekhara Reddy in response to the latter's plea for access to foreign funding besides central assistance for the ORR project.

"A strong and prosperous India has to be built in the year 2006 and Andhra Pradesh will play its own role in this endeavour," he said.

Terming the ORR project as an important step towards easing the stress on the core of the city on several fronts and helping the surrounding rural areas, Manmohan Singh said that Hyderabad would take advantage of its geographical position to become an industrial and economic centre.

"The city is centrally located and most of the country's roads meet at the city. I am sure the city will take advantage of this," he said.

He said that the Centre would give full support to the ORR project and if necessary the viability gap for the funding would be considered.

The Prime Minister said that the UPA government was giving more importance to the development of roads and Rs 1.75 lakh crore would be spent on infrastructure development in future. He reiterated the commitment of the Centre and the state to work for the uplift of the Telangana region.

Union urban development minister S Jaipal Reddy said the Centre would liberally give funds from the Rs 50,000-crore Urban Renewal Programme to the ORR and other urban infrastructure projects in the state. He also assured financial assistance for laying radial roads.

Earlier speaking on the occasion, the chief minister sought the financial support from the Centre for the ORR and irrigation projects.

The 22-km first phase Outer Ring Road stretch between Gachibowli and NH-7 at Shamshabad is proposed to be taken up through a special purpose vehicle formed by the Hyderabad Urban Development Authority (Huda) and the Infrastructure Corporation of Andhra Pradesh (Incap) at an estimated cost of over Rs 470 crore.

The land acquisition and detailed project report (DPR) are ready and the work will begin in March, 2006. The entire project is scheduled to be completed by March 2008, coinciding with the completion of the new international airport.