Hyderabad, May 25: Hyderabad Metro Rail Limited signed an agreement with Indian Railway Finance Corporation for refinancing loans worth Rs 13,600 crore to strengthen the long term financial position of the Hyderabad Metro project.
The agreement documents were signed in New Delhi in the presence of IRFC Chairman and Managing Director Manoj Kumar Dubey and Telangana Chief Secretary K. Ramakrishna Rao.
Officials said the refinancing facility will be provided in quarterly instalments with a repayment tenure of 20 years.
Hyderabad Metro Expansion Gets Financial Support
Speaking on the occasion, Ramakrishna Rao said the Hyderabad Metro project had now come under 100 percent government ownership.
He stated that the Telangana government remains committed to strengthening Hyderabad’s urban transport infrastructure and improving public transport facilities.
According to him, Hyderabad is emerging as a major growth engine for the country’s economy and stronger metro connectivity will help reduce traffic congestion while improving passenger convenience.
The Chief Secretary thanked the Government of India, IRFC, Larsen & Toubro and HMRL teams for supporting the refinancing process.
He added that the government’s long term goal is to expand an efficient, sustainable and modern public transport system across Hyderabad.
Officials believe the refinancing arrangement will provide financial stability for future metro expansion and infrastructure development projects in the city.
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