Telangana Chief Minister K Chandrashekhar Rao said the state government would explore the possibility of aiding Hyderabad Metro as it battled losses from disrupted business due to the Covid pandemic.
The CM assured L&T, the company building and operating the Hyderabad Metro Project, that the government would support it in these challenging times. L&T officials have, in recent times, repeatedly requested the government for support in the face of the losses incurred by the metro during the pandemic.
L&T officials called on the CM on Tuesday at Pragathi Bhavan with their request. They apprised him of the pending bank loan repayments and mounting interest.
Home Minister Mahmood Ali, Roads and Buildings Minister Vemula Prashanth Reddy, Government’s Chief Advisor Rajiv Sharma, Chief Secretary Somesh Kumar, L&T CEO and MD SN Subrahmanyan, MD of Hyderabad Metro NVS Reddy, L&T Director DK Sen, Hyderabad Metro CEO KVB Reddy, and others were at the meeting.
The CM said, “Within a short span, Hyderabad Metro, by providing safest travel services, became a popular public transport system. The Corona pandemic had adverse impact on Hyderabad Metro, as it did for other sectors. For Hyderabad, which is growing day by day, metro rail services are very necessary and there is a need to expand the metro services in future.
“Unfortunately, the Corona pandemic has forced Metro Rail project into financial crisis. The state government would come to the rescue of the prestigious Hyderabad Metro project, as it did for other sectors.”
Stating that the state government would examine ways to help, he added that it needed to think of an out-of-the-box solution, given the pandemic situation. The CM said the effort would be to not only support Hyderabad Metro but also rejuvenate it. A high-level committee would be formed to study the matter in detail and arrive at a policy, he said
The committee would include Municipal Administration Minister KT Rama Rao, R&B Minister Reddy, Chief Advisor Sharma, Chief Secretary Kumar, the CM’s Principal Secretary S Narsing Rao, Finance Special Chief Secretary Ramakrishna Rao, MAUD Special Chief Secretary Arvind Kumar and Principal Secretary (Industries) Jayesh Ranjan.
The CM instructed the committee to submit its report soon.