Telangana government has agreed to take over Phase-I of the Hyderabad Metro Rail project from L&T by paying Rs 2,000 crore for equity and assuming Rs 3,000 crore of the company’s debt, totaling a Rs 15,000 crore deal.
The move follows L&T’s decision to offload its nearly 90 percent stake in the 70 km Metro project, citing operational challenges and accumulated losses. Telangana Chief Minister A Revanth Reddy met with L&T CMD S N Subrahmanyan to finalise the agreement. This takeover aims to expedite approval for Phase-II of the Metro by the Central government.
The move is expected to enable smoother continuation and expansion of Hyderabad’s urban transit infrastructure.