Hyderabad Metro Appoints Consultant for Valuation and Loan Acquisition

New Delhi, June 24: SBI Caps has been appointed as the consultant for the valuation of the first phase (Phase-I) of the Hyderabad Metro Rail, the development of the second phase (Phase-II), and other related matters.

The consultant will conduct a study on the valuation of Phase-I, arrange necessary loans for the takeover, and select lending agencies. Additionally, the study will cover the expansion of the metro rail, construction costs, and financing for Phase-II. This decision was made during a meeting on Tuesday between Telangana Chief Minister K. Chandrashekar Rao and Union Urban Development Minister Manohar Lal, which was also attended by Union Coal and Mines Minister G. Kishan Reddy.

The Chief Minister’s Office (CMO) described the discussions on the takeover of Phase-I and the proposed Phase-II as “beneficial.” This meeting followed a discussion between Rao and Kishan Reddy with Railway Minister Ashwini Vaishnaw the previous day.

According to the CMO, the Chief Minister informed the Union ministers about the challenges faced in the takeover of Phase-I and the initiation of Phase-II. During the meeting, an agreement was reached to appoint a consultant.

The state and central governments will determine further actions based on the consultant’s report. The Chief Minister and Union ministers agreed to appoint a senior official from the central government and the Special Chief Secretary of the state’s Municipal Administration and Urban Development (MAUD) department as representatives to coordinate during the consultant’s study.

These officials will work together to expedite the study and government processes. On Monday, the Chief Minister met with Kishan Reddy and Railway Minister Vaishnaw to discuss issues related to the loan obtained from the Indian Railway Finance Corporation (IRFC) for Phase-I of the metro rail.

This meeting occurred a week after Rao requested the central government to release ₹13,600 crore for the refinancing of the term loan for the Hyderabad Metro Rail Phase-I, which was acquired by the state government from Larsen & Toubro Limited, without any delay.