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It’s curtains for L&T Metro Rail Hyderabad (L&TMRH) and the Public-Private Partnership (PPP) model for Phase 1 of the Hyderabad Metro Rail (HMR) , with the State government agreeing in principle to take over the project.

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As part of the one-time settlement, the government will pay ₹2,100 crore to L&T towards its equity investment and also take over the project’s debt of approximately ₹13,000 crore , according to an official release on Thursday. The development follows discussions between Chief Minister A. Revanth Reddy and L&T Chairman & Managing Director S.N. Subrahmanyan , along with other senior officials, to resolve issues and pave the way for the second phase of the metro project, which is awaiting clearance fr

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