Telangana Govt buys L&T’s metro stake for `2,000 crore
Telangana Government has agreed to take over Phase-I of Hyderabad Metro Rail project from L&T Group by paying `2,000 crore for the equity in the concessionaire L&T Metro Rail Hyderabad Ltd, official sources said on Thursday.
It was agreed that the state Government would also take over the company’s debt of `13,000 crore, they said. L&T has about 90 per cent equity in the project.
