Hyderabad, Sept. 13 -- Larsen and Toubro (L&T) has expressed its intent to hand over Hyderabad Metro's Phase I to the government owing to financial losses.

According to reports, L&T officials have written to the Union Ministry of Housing and Urban Affairs asking either the Centre or state government to take over the 69.2 km network spanning three corridors.

This comes amid the state government's plans to expand the metro network with five more corridors in Phase II. The plan will pose challenges regarding revenue and cost sharing if Phase I and Phase II trains run on the same tracks.

L&T has reportedly asked the government to either operate both systems independently or take over Phase I entirely, owing to ongoing financial losses.

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