Chief Minister Sri. K. Chandrashekhar Rao meeting with Bankers at Pragathi Bhavan

Several banks have come forward to extend financial assistance to the Kaleswaram Project in the State. For the project’s first phase of works the consortium of banks led by Andhra bank estimated the costs at Rs 7,400 Crore.

Of this Andhra Bank has expressed its willingness to give Rs 1300 Crore, which is it’s share, as loan. Andhra Bank MD Sri Suresh Patel on Thursday has formally handed over the acceptance letter in this regard to Honourable Chief Minister Sri K Chandrashekhar Rao.

In a meeting held at Pragathi Bhavan, Special Chief Secretary (Irrigation) Sri SK Joshi, Principal Secretary (Finance) Sri Ramakrishna Rao, Andhra Bank ED Sri AK Rath, DGM Sri Prasad and others participated.

The Andhra Bank officials, on the occasion, said that the bank is participating in several programmes launched by the State Government. Andhra Bank is giving Rs 1935 Crore to Mission Bhagiratha, Rs 1000 Crore to Civil Supplies Department, Rs 235 crore to Hyderabad Metro Rail project and for Seed Development Corporation Rs 400 Crore is given as a loan. The Chief Minister thanked the Andhra bank officials for their gesture.

-Press note