L&T to exit Hyd Metro, T govt to steer Phase-1
Hyderabad: After operating the Hyderabad Metro Rail for nearly eight years, L&T Hyderabad Metro Rail Limited (LTMRHL) is all set to exit the project soon. The Telangana govt will take over the Phase-1 metro project, absorbing Rs 13,000 crore in debt and paying Rs 2,000 crore to LTMRHL as a one-time settlement.
“The conditions of the takeover shall be worked out with mutual discussions, and the process will be carried forward in a carefully calibrated and mutually agreeable manner, duly ensuring all legal and statutory compliances,” chief secretary K Ramakrishna Rao told TOI.
