HYDERABAD (Metro Rail News): The SBI Capital Market Ltd (SBICAPS) has been appointed to study the valuation of Hyderabad Metro Phase 1 and the expansion of the Hyderabad Metro Phase 2 Project. This decision was taken during the meetings between Telangana Chief Minister Revanth Reddy and Manohar Lal Khattar, the Union Minister of Housing and Urban Affairs, for two consecutive days on June 22-23 in New Delhi.
The decision came at the backdrop of CM Reddy’s letter on 16th June to Union Minister G Kishan Reddy seeking support for an arrangement of a meeting with Ashwini Vaishnaw, Union Railway Minister. The two Union Ministers were also present in the meeting at Khattar’s residence on Tuesday morning (June 23).
SBICAPS will conduct a comprehensive study on:
- Hyderabad Metro Phase 1 valuation
- Hyderabad Metro Phase 2 expansion
- Raise loans for the required acquisition
- Selecting an institute for lending the funds
Furthermore, it was decided that an officer from the central government and a special secretary of the state municipal administration and urban development (MA & UD) department should be the representative for coordination during the study. Future actions on the Hyderabad Metro expansion will take place according to the reports of this study.
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