Hyderabad Metro Rail Takeover for Expansion

Hyderabad : A crucial step has been taken regarding the future of the Hyderabad Metro Rail Project. Telangana Chief Minister A. Revanth Reddy, who is on a visit to Delhi, said that the series of meetings held with Union Ministers were successful. The government took over Metro Phase-1, as well as all the major obstacles in the Phase-2 expansion work, were removed with these discussions. A high-level joint meeting was held for about 40 minutes at the residence of Union Housing and Urban Affairs Minister Manohar Lal Khattar on Tuesday morning. Along with CM Revanth Reddy, Union Ministers Manohar Lal Khattar, Ashwini Vaishnav (Railway Department), G. Kishan Reddy and senior officials of the Telangana government participated in this meeting. Everyone came to a consensus in this meeting on Metro expansion, fund mobilization, and joint partnership between the Center and the State. ‘SBICAPS’ selected as consultant.. Here are the procedures: A prestigious financial advisory firm ‘SBICAPS’ (SBI Capital Markets) has been selected as the consultant to take the metro project forward financially and technically. This firm will study the main issues and provide a comprehensive report.

Phase-1 Valuation: In the context of the government taking over Metro Phase-1 from L&T, SBICAPS will prepare a roadmap on debt, equity value (valuation) and debt collection.

Phase-2 Report: What will be the construction cost of the corridors proposed under Phase-2? Which international lending institutions should be selected for funding? It will provide a report on these issues.

Government decision: The central and state governments will jointly take the next steps based on the report provided by this consultancy firm. ‘Coordination Committee’ to speed up the process:A special coordination committee has been formed with senior officials at the central and state levels to speed up the project work in accordance with the central guidelines. In this committee, along with a representative of the central government, the special secretary of the Telangana Municipal Administration and Urban Development Department (MA&UD) will act as coordinating members. This committee will monitor the process of making changes in the DPRs and granting work permits as per the central rules. With this development, it will be easier to get central approval for the expansion of Hyderabad Metro Phase-2. This will not only solve the traffic woes of Hyderabad city, but will also stand as a milestone in the future public transport system.