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Andhra Pradesh
YSR for Austria to clinch Rs. 3400-crore deal
By Our Special Correspondent
HYDERABAD,
JULY 23.
The Chief Minister, Y.S. Rajasekhara Reddy, will leave for Austria on August 1 on a five-day visit along with the Minister for Major Irrigation, Ponnala Laxmaiah, and senior officials to clinch a Rs. 3,400-crore deal with the Austrian Government for new irrigation projects in the State.
He told reporters here on Friday that the Government planned to launch the Dummugudem hydel project straight away. "There will be no delay in executing the proposed projects.'' The Austrian assistance comes in two components — 40 per cent as equipment and the rest in cash. The delegation will study mini-hydel projects in Austria and the feasibility of further assistance. The present loan comes at 4.9 per cent interest.
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