Telangana to Take Over Hyderabad Metro Rail Phase 1: CM Revanth Reddy Announces Plan
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Telangana Chief Minister A Revanth Reddy has announced plans to expedite the takeover of the Hyderabad Metro Rail Phase 1 project from Larsen & Toubro (L&T) by the end of March. The decision was made during a cabinet meeting on Monday, where CM Reddy reviewed the progress of the takeover process. The state government signed an agreement with L&T on September 25 to take over the existing phase, following the company's decision to exit due to significant losses. Under the agreement, the Telangana government will absorb the existing debt of approximately ₹13,000 crore and return ₹2,000 crore to L&T as a one-time settlement. The state aims to complete the takeover process before March, enabling smoother operations and future expansion of the metro network. The move is expected to bring the Hyderabad Metro Rail project under the direct management of the Telangana government, paving the way for increased efficiency and growth.
