Telangana to Take Over Hyderabad Metro
HYDERABAD: The Telangana cabinet decides to take over the Hyderabad Metro Rail from Larsen & Toubro and sets up a ministerial sub-committee to oversee the process.
Cabinet forms panel to oversee takeover
The committee will be led by Deputy Chief Minister Bhatti Vikramarka. Ministers Uttam Kumar Reddy, Sridhar Babu and Jupally Krishna Rao are members.
The state government has already issued a formal announcement on the takeover.
Government to assume ₹13,000 crore debt
Under a preliminary agreement reached last year, the government agreed to pay ₹2,000 crore equity to L&T in a lump sum and take over loans worth ₹13,000 crore.
The takeover process began after the understanding was reached.
IDBI Capital, DMRC submit valuation reports
IDBI Capital assessed metro assets and their valuation. The Delhi Metro Rail Corporation evaluated technical components, including trains, tracks and signalling systems, and submitted preliminary reports.
