L&T Looks to Exit Hyderabad Metro Over Challenges
HYDERABAD: Larsen and Toubro (L&T), the principal stakeholder in Hyderabad Metro Rail Phase I, has announced its intention to withdraw from the operations of Hyderabad Metro Rail Limited (HMRL) for Phase I and will not participate in the proposed Phase II expansion due to substantial operational difficulties and increasing financial losses. In a letter to the Ministry of Housing and Urban Affairs obtained by TOI, KVB Reddy, Managing Director and CEO of L&T Hyderabad Metro Rail Limited (L&THMRL), detailed various complications arising from the separate management of stations from the two phases. The letter highlights that having different entities operate…