Hyderabad: Larsen and Toubro (L&T) has expressed its intent to hand over Hyderabad Metro’s Phase I to the government owing to financial losses.
According to reports, L&T officials have written to the Union Ministry of Housing and Urban Affairs asking either the Centre or state government to take over the 69.2 km network spanning three corridors.
This comes amid the state government’s plans to expand the metro network with five more corridors in Phase II. The plan will pose challenges regarding revenue and cost sharing if Phase I and Phase II trains run on the same tracks.
L&T has reportedly asked the government to either operate both systems independently or take over Phase I entirely, owing to ongoing financial losses.
Hyderabad metro network
Phase I of Hyderabad metro currently operates three corridors: Miyapur-LB Nagar, Jubilee Bus Station-MGBS and Nagole-Raidurg.
The proposed corridors will run between Nagole – Shamshabad RGIA (Airport), Raidurg – Kokapet Neopolis, MGBS – Chandrayangutta (Old City), Miyapur – Patancheru and LB Nagar – Hayathnagar.
Work on the Old City corridor has picked up pace with pillar markings and identification of properties for demolition.
So far, 550 demolitions have been completed, and the number of affected properties has been brought down from 1,100 to 886. Compensation amounting to Rs 433 crore has also been disbursed to property owners.
