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KCR hints at helping L&T Hyderabad metro tide over Covid losses

Telangana Chief Minister Okay Chandrashekhar Rao mentioned the state authorities would discover the potential of aiding Hyderabad Metro because it battled losses from disrupted enterprise because of the Covid pandemic.

The CM assured L&T, the corporate constructing and working the Hyderabad Metro Project, that the federal government would assist it in these difficult occasions. L&T officers have, in current occasions, repeatedly requested the federal government for assist within the face of the losses incurred by the metro throughout the pandemic.

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L&T officers known as on the CM on Tuesday at Pragathi Bhavan with their request. They apprised him of the pending financial institution mortgage repayments and mounting curiosity.

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 had been at the assembly.

‘Prestigious project’

The CM mentioned, “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.”

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Stating that the state authorities would study methods to assist, he added that it wanted to think about an out-of-the-box answer, given the pandemic state of affairs. The CM mentioned the trouble can be to not solely assist Hyderabad Metro but additionally rejuvenate it. A high-level committee can be fashioned to review the matter intimately and arrive at a coverage, he mentioned

The committee would come with 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 quickly.

#Note-Author Name – Our Bureau

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