Hyderabad Metro takeover enters final stage
HYDERABAD: The Hyderabad Metro takeover has entered its final stage, with the Telangana government aiming to complete the process by the end of the current financial year.
Reports to go before Cabinet on February 23
The government has prepared finance and technical study reports as part of its decision to take over the Hyderabad Metro from Larsen & Toubro (L&T). The process has already begun.
Delhi Metro Rail Corporation has been appointed as the technical consultant. IDBI has completed its study as the financial and legal adviser. A report on L&T’s outstanding dues has also been submitted to the government.
Government targets March 31 deadline
Sources said discussions are under way between Hyderabad Metro Rail Limited and L&T on agreements related to the takeover. The reports are expected to be placed before the Cabinet on February 23.
Officials said the takeover process would be expedited after Cabinet approval. The government has decided to complete the exercise by March 31.
