L&T To Raise Fresh Funds To Complete Second Phase Of Hyderabad Metro Rail Project

L&T To Raise Fresh Funds To Complete Second Phase Of Hyderabad Metro Rail Project

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Date Of Post: 22 Nov, 2017

Hyderabad: L&T Metro Rail Hyderabad (LTMRHL), is in talks to raise fresh funds to complete the second phase of the Hyderabad Metro Rail project. The company wants to raise around Rs 1,000-1,500 crore to lower the cost of debt. L&T is building the 72-km long elevated Hyderabad Metro Rail project.

More Information:

  • The first phase of the 30km long route of Hyderabad Metro Rail project will be inaugurated by PM Modi on November 28.
  • The remaining stretch is expected to be completed by the end of next year.
  • It is the largest Metro rail project in the PPP mode, it was taken up in 2010 for Rs 14,132 crore.
  • A top official from LTMRHL said,“Since this is a unique project, it is likely to attract both foreign and domestic equity partners on board. We are looking at funds or long-term loans. We are seeing a lot of attraction for this PPP project and hope to have a few equity partners on board, though not immediately, may be during the time of completion. This is being worked out by the holding company, L&T IDPL.”
  • L&T has reportedly sought an additional amount of Rs 3,756 crore from the state.

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