Mega master policy, 55-km Musi riverfront development in PPP model, says Minister Sridhar Babu

Minister for IT, Industries & Commerce, D Sridhar Babu, has said that the government is poised to unveil a comprehensive 'mega master policy' aimed at catalyzing industrial growth by 2050.

As part of this initiative, the Hyderabad Metropolitan Development Authority (HMDA) is tasked with developing a 55-km stretch of the Musi riverfront. The proposed riverfront will feature amusement parks, waterfalls, water sports, streetvendors, a business area, and a shopping mall under a public-private partnership (PPP) model.

The Musi riverfront project is strategically designed to transform into a prominent tourism destination, incorporating attractions like amusement parks and water sports. This effort aims to create an engaging environment for both locals and tourists, with a focus on enhancing the overall vibrancy of the destination.

In addition to leisure amenities, the inclusion of business areas and shopping malls along the riverfront seeks to generate economic opportunities, attracting entrepreneurs and investors. The project also promotes a diverse mix of commercial activities, fostering local businesses and job creation within the community.

Also Read: Revanth Reddy suggests 4 dumpyards for Hyderabad, Musi riverfront development

The development adheres to a PPP model, emphasising collaboration between the government and the private sector. This model ensures the efficient utilisation of resources and expertise, ultimately fostering sustainable development practices.

Integral to the project is the integration of spaces for cultural events andgatherings, contributing to the social and cultural well-being of the community. Street vendors and markets are incorporated to add a local flavor, fostering a sense of community engagement and inclusivity.

Environmental conservation is a top priority, with a commitment to maintaining the ecological balance of the Musi River. Sustainable landscaping and green initiatives are integral components, enhancing the overall aesthetic appeal and ecological value of the riverfront.

The development underscores opportunities for local communities to actively participate in the project's evolution, ensuring alignment with their needs and aspirations. Public consultations and feedback mechanisms are in place to promote transparency and inclusivity throughout the development process.

To ensure accessibility for residents and visitors, the project integrates with existing transportation infrastructure and enhances connectivity with neighboring areas, facilitating a seamless flow of people and commerce.

Anticipated employment opportunities, particularly in sectors related to tourism, hospitality, and entertainment, are expected to arise from the riverfront development projects. Collaboration with local educational institutions is envisioned to provide training programs for skills relevant to the project, contributing to the overall skill development of the community.

The Musi riverfront development emphasises eco-friendly construction practices and the use of sustainable materials. Additionally, the adoption of renewable energy sources is prioritized to power amenities and facilities along the riverfront, aligning with broader environmental sustainability goals.

Also Read: Development of Musi Riverfront in 36 Months; 55-km stretch in phase I

Lastly, the project places great importance on preserving any historical or cultural landmarks along the Musi River. Interpretative signage and educational elements will be incorporated to showcase the historical significance of the river and its surroundings, enriching the project with a sense of heritage.

Sridhar Babu participated in the fifth edition of CII Telangana, “Infrastructure & Real Estate Summit” at Hotel ITC Kakatiya.

Dana Kishore, IAS, Principal Secretary, MA&UD, Government of Telangana; C Shekar Reddy, Chairman, CII Telangana & CMD, CSR Estates Limited; Sai D Prasad, Vice Chairman, CII Telangana & Executive Director, Bharat Biotech International Ltd; Sreekanth Reddy, Managing Director, Cushman & Wakefield; M Goutham Reddy, Convenor, CII Telangana Infra & Real Estate Panel & MD & CEO, Re-Sustainability Limited; and Shaik Samiuddin, Director & Head, CII Telangana, also participated in the summit.