Telangana govt to acquire L&T's stake in Hyderabad Metro Rail project for Rs.2,000-Cr

The Government of Telangana has agreed to take over Phase-I of Hyderabad Metro Rail project from L&T Group by paying INR 2,000 crore for the equity in the concessionaire L&T Metro Rail Hyderabad Ltd.The state government would also take over the company's debt of INR 13,000 crore. L&T has about 90% equity in the project.