HYDERABAD : A five-member Japanese delegation of Asian Partnership Fund, which works in close coordination with Japanese Government, is in the city on a goodwill visit as also for a preliminary evaluation of Outer Ring Road (ORR) project.

The team, led by Itaro Mae, came to the city on December 17. It is going round the city, proposed Outer Ring Road alignment and interacting with HUDA authorities, representatives of IT, Infrastructure, construction, pharmaceutical and other sectors assessing the growth potential of the city.

The team will submit a technical feasibility report on ORR to the APF which has evinced interest in funding the project. The delegation met HUDA Chairman D. Sudheer Reddy on Thursday.

The HUDA Chairman said the Government had been working on ORR for the last two years and was keen on completing the project by March, 2008 when the International Airport would be ready. "Completing the project within that time-frame is crucial," he told them.

Assurance on report

The Japanese team assured the Chairman of submitting the report by next month-end. The team members disclosed that Japan was keen on investing in Hyderabad because of its growth potential. They will meet the Chief Minister and other officials before they leave on December 27.

Explaining the potential of the project, the Chairman said that HUDA would allot land for the project and the land value would appreciate significantly once the work on ORR would commence.

By 2025 the areas peripheral to the ORR would emerge as new city as several projects, commercial and entertainment facilities were expected to come up along the alignment. He also said that the Government would be the guarantor for the project.

Global tenders

Earlier, the Chairman told newsmen that besides Dubai, with which an MoU had been signed, Malaysia, Singapore evinced interest in ORR project and the team from APF, Japan, was the latest to visit the city.

The notification for global tenders would be issued in two days and after a month's time, the bidders would be shortlisted and the contract would be awarded to the one bidding lowest cost.

A Special Purpose Vehicle would be floated in a week for finalisation of the project details, he said.

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