Hyderabad, Feb. 24 -- : In a significant move, Telangana Cabinet led by Chief Minister A Revanth Reddy on Monday night approved the takeover of the 69-km Hyderabad Metro Rail Phase-I network from Larsen & Toubro (L&T) by paying about Rs15,000 crore, including liabilities and decided to immediately initiate necessary steps in this regard.
A Cabinet Sub-Committee constituted to examine the acquisition and feasibility of the Metro submitted its report, which was discussed in detail.
The government also decided to deliberate further on the issue during the upcoming Assembly sessions, if required.
According to the Sub-Committee's report, the State government will have to pay approximately Rs15,000 crore, including debt, to acquire the Phase-I...