Hyderabad, Feb. 23 -- The government has decided to take over the Hyderabad Metro Rail Project from L&T at the state cabinet meeting held at Dr BR Ambedkar Telangana State Secretariat on Monday, February 23.

Last year, the government formally took over Phase 1 of the Metro after L&T clarified it would not participate in Phase 2 as an equity partner, adding it had exited the business of owning and operating transport concession projects. The state took the existing debt of Rs 13,000 crore and paid L&T Rs 2,000 crore as a one-time settlement for its investment in L&T Metro Rail Hyderabad Limited (LTMRHL).

Chaired by Chief Minister A Revanth Reddy, the cabinet discussed at length various aspects of the forthcoming State Budget Sessions, pl...