Hyderabad: In a significant development for urban infrastructure, the Telangana government has agreed to buy Larsen & Toubro’s (L&T) share in the Hyderabad Metro Rail Phase-I project. This lets L&T leave the project fully.
The development follows discussions between Telangana Chief Minister A. Revanth Reddy and L&T Chairman & Managing Director S.N. Subrahmanyan, along with other senior officials, to resolve issues and pave the way for the second phase of the metro project
The deal is worth about ₹15,000 crore. The state will take on ₹13,000 crore of debt. It will pay L&T ₹2,100 crore for its equity in L&T Metro Rail Hyderabad Ltd (LTMRHL).
This follows long talks and a deadlock on Phase-II expansion. Now, the government can control the project and plan future growth its way.
Officials say the takeover terms will be set through talks. They must follow all laws. The state cabinet must approve it. Details will come soon.
This change makes the Hyderabad Metro fully run by the state. It improves government control over a big metro project in India. The 69-km Phase-I has run since 2017. It helps millions of people travel daily.
Government leaders say this fits plans to boost city transport. It links metro growth to city needs. L&T built it as a public-private partnership. L&T is happy with the deal and will sell out completely.
