Telangana Govt to Take Over Hyderabad Metro, L&T Exits

In a big development, the Telangana government has decided to fully take control of Hyderabad Metro Rail Phase-I, as L&T has chosen to exit the project.As per the agreement, the State will absorb nearly ₹13,000 crore debt and pay ₹2,000 crore to L&T for its equity stake. With this, L&T’s role in the Hyderabad Metro officially comes to an end.Chief Minister A Revanth Reddy held detailed talks with L&T officials to resolve the long-pending issues. Since L&T declined to join Phase-II or link it with Phase-I, the company opted to hand over its complete stake to the State.

Now, the Telangana government will have complete control over Metro Phase-I, making way for the much-awaited 160 km Phase-II expansion. The final plan will be presented before the State Cabinet soon.