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Wednesday, September 22, 2021

KCR assures support to Hyderabad metro to overcome losses

KCR announced the setting up of a high-level committee to explore ways to save the Hyderabad Metro and sought a report.

By: Express Web Desk | Hyderabad |
September 15, 2021 11:29:05 am
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The Hyderabad Metro Rail Limited (HMRL), which has been suffering huge losses owing to months of lockdown due to the pandemic and reduced footfall since reopening of regular services, on Tuesday received a ray of hope as Chief Minister K Chandrasekhar Rao agreed to explore possibilities to help it.

The Hyderabad Metro is the largest metro rail service built and operated in a public-private partnership.

KCR announced the setting up of a high-level committee to explore ways to save the Hyderabad Metro and sought a report.

Representatives of the L&T Metro Rail Hyderabad Limited (MRHL), the private concessionaire of the HMRL, were assured of support by the CM to bring the organisation back on track. The L&T MRHL has made repeated requests to the state government seeking support in the wake of heavy losses incurred by it due to the pandemic.

On Tuesday, the officials of L&T MRHL met with the CM and discussed the financial situation, including repayment of loans and mounting interest charges.

“It is regrettable that the Corona Pandemic situation forced the Metro Rail project into financial crisis and it was made to pay compound interests. The state government would come to the rescue of the prestigious Hyderabad Metro project as it did for other sectors, the CM said, according to a note from his office. The CM said measures would be taken not only to support Hyderabad Metro but also to rejuvenate it. To study the matter extensively, the pros and cons, and arrive at a policy, the CM said a high-level committee would be formed.

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