Telangana govt to buy L&T’s Hyderabad Metro stake for ₹2000 cr
HYDERABAD: The Telangana government has agreed to take over Phase-I of the Hyderabad Metro Rail project from L&T Group for ₹2,000 crore, covering the equity stake in L&T Metro Rail Hyderabad Ltd, according to official sources. As part of the agreement, the state will also assume the company’s debt of ₹13,000 crore. L&T currently holds about 90% equity in the project. Last month, the infrastructure giant expressed its intention to divest its stake—approximately 70 km—of the Metro Rail project to either the state or central government via a new Special Purpose Vehicle (SPV), citing operational and accumulated losses. Chief Minister…