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The Telangana government has secured a refinancing agreement worth Rs 13,600 crore from the Indian Railway Finance Corporation (IRFC) for the Hyderabad Metro Rail project. This was signed on Monday in Delhi between the Indian Railway Finance Corporation, L&T Metro Rail (Hyderabad) Ltd, and Hyderabad Metro Rail Ltd.
Hyderabad Metro Refinancing Agreement
Telangana Chief Secretary K Ramakrishna Rao attended the signing event in the national capital. According to a statement issued by the state government, this refinancing deal will provide major financial support to the Hyderabad Metro Rail project and improve its long-term financial stability. Officials said the new refinancing arrangement will help reduce the existing debt burden of the Hyderabad metro project. It will also support future metro expansion plans in Hyderabad.
Sustainable Transport System in Hyderabad
Rao said the Telangana government, under the leadership of Chief Minister A Revanth Reddy, is focused on developing a modern, sustainable, and passenger-friendly public transport system in Hyderabad. He added that Hyderabad is becoming an important centre for India's economic growth, making the expansion of metro rail services very important for the city's future development.
Recently, the Telangana government acquired complete ownership of L&T Metro Rail Hyderabad Ltd through Hyderabad Metro Rail Ltd (HMRL). This move is expected to give the government greater control over metro operations and future projects. As per the agreement, the loan amount will be repaid over 20 years through quarterly instalments.
Hyderabad Metro Rail Phase 1
The Hyderabad Metro Rail Phase 1 project is 69.2 kilometres long and includes three corridors with 57 stations. It is one of the largest metro rail projects in India, developed under the Public-Private Partnership (PPP) model. Around five lakh passengers use the metro network every day for travel across the city.