Hyderabad: Telangana Chief Minister A. Revanth Reddy on Monday said his discussions with Union Railway Minister Ashwini Vaishnaw on securing an Indian Railway Finance Corporation (IRFC) loan for the Hyderabad Metro Rail takeover had yielded positive results.
The Chief Minister met the Railway Minister in New Delhi along with Union Minister for Coal and Mines G. Kishan Reddy. The meeting lasted for nearly three hours and focused on the proposed takeover of Hyderabad Metro Rail Phase-I from L&T.
Speaking to reporters after the meeting, Revanth Reddy said the discussions moved in a positive direction. He also announced that he would meet Union Minister for Housing and Urban Affairs Manohar Lal Khattar on Tuesday to continue talks on the project.
Telangana Seeks Rs 13,600 Crore IRFC Loan
The Telangana government is seeking a loan of Rs 13,600 crore from the IRFC to facilitate the takeover of Hyderabad Metro Rail Phase-I.
Although the loan agreement was signed in May, the funds have not yet been released. The delay has become a key issue for the state government as it moves ahead with its plans for the Metro project.
Metro Loan Delay Triggered Political Debate
The issue had earlier sparked a political row between the Telangana government and the BJP.
Revanth Reddy had previously alleged that Union Minister G. Kishan Reddy was responsible for the delay in the loan disbursement. He also wrote to the Centre seeking support for both the Metro Phase-I takeover and the implementation of Metro Phase-II.
However, Monday’s meeting signalled a more cooperative approach, with both leaders participating in discussions with the Railway Minister.
More Discussions Expected
The Chief Minister said further discussions would take place with Union Urban Development Minister Manohar Lal Khattar.
The Telangana government hopes to secure financial support soon so that the Metro takeover process can move forward without delays.
The outcome of these meetings could play a crucial role in shaping the future expansion and management of Hyderabad Metro Rail, one of the city’s most important public transport projects.