Hyderabad Metro: Revanth Reddy meets Union Ministers on takeover, Phase 2
Synopsis
Telangana CM Revanth Reddy met Union Ministers in Delhi, reaching a consensus on the Hyderabad Metro Rail. A consultant, SBICAPS, will be appointed to study the Phase 1 takeover valuation and Phase 2 expansion, guiding future action.
Telangana Chief Minister Revanth Reddy met Union Ministers and discussed the takeover of Hyderabad Metro Rail phase one and the proposed Hyderabad Metro Rail phase 2 project, a press release stated.
CM Revanth Reddy met with Union Minister for Urban Affairs Manohar Lal and Railways Minister Ashwini Vaishnaw for two consecutive days in New Delhi. The Chief Minister apprised the Union Ministers of the hurdles facing the takeover of Metro Rail phase one and the launch of the Metro Phase 2 project. On Monday, the CM held extensive discussions with Ashwini Vaishnaw and Union Coal and Mines Minister G Kishan Reddy.
Consensus reached to appoint consultant
As per the release, Revanth Reddy met again with Manohar Lal, Ashwini Vaishnaw and Kishan Reddy at Manohar Lal's residence on Tuesday morning. During the meeting, the Chief Minister and Union Ministers arrived at consensus and decided to appoint a consultant.
The consultant will study the valuation of Hyderabad Metro Phase-I, raise loans required for takeover, and a selection of lending agencies. Further, a study will be taken on Metro Rail expansion, construction cost, and financing for Metro Phase-II. The SBICAPS, which has been selected as the consultant, will conduct a comprehensive study on the valuation of Metro Rail Phase-I, expansion of Phase-II, and other related matters.
The state government and the Centre will decide the future course of the action plan based on the report submitted by the consultant. The CM and Union Ministers agreed to appoint a senior official from the Union government and the Special Chief Secretary of the State Municipal Administration and Urban Development (MA&UD) Department as representatives for coordination during the study by the Consultant. The two officials will work in coordination to facilitate the speedy completion of the study and official process, the press release stated.
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