A plan worth Rs 1,665 crore is being prepared for the riverfront development project on Musi river, which will be taken up in three phases.
Musi is a tributary of Krishna river, which cuts across Hyderabad, has now become one of the most polluted rivers in the country.
"We are starting this project before this year end. There will be a time-frame and it will be completed (as per schedule)," Rathore said, without specifying a time limit of completion of the project.
He was talking at the formal inauguration the office of the newly constituted Musi Riverfront Development Corporation.
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Abatement of pollution, river conservation, riverfront development, beautification of the river are main components of the project.
River cleaning, bank stabilisation, river walkway, Musi nature grove, bridges, rowing course and water pools are also proposed under the riverfront development.
The Telangana government is expected to contribute Rs 500 crore for the project, while the remaining amount will be raised from banks and other financial institutions, according to corporation officials.
Earlier in the day, Telangana Home minister N Narasimha Reddy inaugurated the office.
The state government had earlier created a special purpose vehicle and appointed Prem Singh Rathore as chairman for the development and rejuvenation of Musi river.
It plans to take up the river's beautification on the lines of banks of Sabarmati river in Ahmedabad.