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Telangana Chief Minister A. Revanth Reddy has written to Union ministers Manohar Lal Khattar and G. Kishan Reddy, requesting their support for quick approvals for the Hyderabad Metro Rail (HMR) Phase-II expansion and for the state government's takeover of Phase-I operations.
Hyderabad Metro Phase II Expansion & Takeover of Phase I Led to Further Discussions
In separate letters sent on July 4, the Chief Minister said the delay in taking over Phase-I was creating operational problems and uncertainty. He added that the pending process was also affecting the approval of the detailed project reports (DPRs) for Phase-II and delaying funding arrangements. According to him, any further delay could increase the cost of the Phase-II project due to rising construction expenses and time overruns.
Revanth Reddy referred to decisions taken during high-level meetings held on June 23 and 24. He said SBI CAPS (Capital Markets Limited) should be appointed immediately as the nodal agency to carry out the valuation of Phase-I assets, refinance existing high-interest loans, and prepare a financial plan for Phase-II.
In his letter to Union Housing and Urban Affairs Minister Manohar Lal Khattar, the Chief Minister said it had already been agreed that SBI CAPS, which the Government of India empanels for such work, would handle the financial evaluation of Hyderabad Metro Phase-I to help the Telangana government take over the project.
He said the valuation of Phase-I, refinancing of debt, and financial planning for Phase-II are closely connected and should be carried out together without delay. However, he pointed out that SBI CAPS has still not been officially assigned the work, and the terms of reference have not yet been finalised or shared with the Telangana government.
Revanth Reddy also sought the support of Union Minister G. Kishan Reddy. He reminded him of the recent meetings held with the Union Ministers for Railways and Housing and Urban Affairs. Stressing the importance of the project, the Chief Minister said Hyderabad Metro Phase-II is essential for meeting the city's future transport needs, reducing traffic congestion and supporting Hyderabad's continued growth.