Telangana CM calls for faster MoU implementation with companies

Hyderabad: Telangana Chief Minister A Revanth Reddy on Wednesday, April 22, asked officials to expedite MoU signing with companies. He said that companies which have been allotted land must begin operations at the earliest.

In a review meeting, officials briefed him regarding the status of the commencement of the operations by the companies, current status of the permissions and pending for clearance due to technical or other issues. The authorities provided the details of the allocation of lands to the investing agencies in various locations including ‘Future City’, prevailing market prices of the lands and the managements’ readiness to purchase the lands.

Officials were asked to allocate lands to firms in the ‘CURE, PURE AND RARE’ zones in accordance with the government policy. The Chief Minister stressed that orders for approval of investments should be granted expeditiously and pay special attention to ensuring that the concerned companies commence their operations promptly, said a press release from his office.

In the meeting, which was attended by Telangana IT Minister Sridhar Babu, Reddy stressed that all pending land acquisition processes pertaining to the lands designated for companies that have signed MoUs be completed at a fast pace. The officials should also collect the details regarding the facilities required by the companies, their future needs and to proceed in a planned and systematic manner.

He also sought appropriate plans to meet the water requirements at the data centers. The CM suggested categorizing the companies which signed agreements with the government into three distinct groups. Top priority will be given to multinational corporations and companies with established market reputations ensuring they commence operations fast.

The Chief Minister advised that the second priority be accorded to rapidly growing companies and organizations which demonstrate strong performance in the future, while the remaining companies should be placed in the third priority category. Focus should be given more on facilitating the realization of their investments.

The officials should also ascertain increasing intense inter-state competition in attracting investments and to remain constantly updated on developments in this regard.

Future City review

Reviewing the development of the Future City, CM Revanth Reddy directed officials to expedite the completion of office facilities in the new city and establish a continuous monitoring mechanism there to oversee the implementation and progress of the MoUs .

The officials were also ordered to hold discussions with representatives of companies which completed the project works and make the necessary arrangements for their inauguration ceremonies. A dashboard will be established to enable the CMO and the ministers of the respective departments to track every detail, specifically status of MoUs, hurdles for implementation, more investment prospects, generation of employment opportunities etc.

A comprehensive monitoring system specifically for investments would also be developed and the new system will be monitored by a senior level IAS officer, added the release.

IT Towers in tire 2, 3 cities

The CM also reviewed the development of IT Towers in tire two and three cities. The proposed industrial and IT projects using JICA funding were reviewed and the CM issued several directives to officials regarding these specific projects.

Old City Metro

He also called for expediting metro rail works in Old City of Hyderabad and stressed the remaining land acquisition required be completed expeditiously. Before the review of MOUs, the Chief Minister held a separate meeting on Hyderabad Metro Rail project works and instructed that the works up to Chandrayangutta must be completed within two years.

Discussions were also held regarding the approvals for Metro Rail Phase II and the extension of the Metro line to the high-speed corridor at Bahadur Guda.