SBICAPS appointed consultant for Hyderabad Metro Phase-I valuation after Telangana CM meets Union Ministers in Delhi
New Delhi, June 23
Telangana Chief Minister Revanth Reddy met Union Ministers and discussed the takeover of Hyderabad Metro Rail phase one and the proposed Hyderabad Metro Rail phase 2 project, a press release stated.
CM Revanth Reddy met with Union Minister for Urban Affairs Manohar Lal and Railways Minister Ashwini Vaishnaw for two consecutive days in New Delhi. The Chief Minister apprised the Union Ministers of the hurdles facing the takeover of Metro Rail phase one and the launch of the Metro Phase 2 project.
On Monday, the CM held extensive discussions with Ashwini Vaishnaw and Union Coal and Mines Minister G Kishan Reddy.
As per the release, Revanth Reddy met again with Manohar Lal, Ashwini Vaishnaw and Kishan Reddy at Manohar Lal's residence on Tuesday morning. During the meeting, the Chief Minister and Union Ministers arrived at consensus and decided to appoint a consultant. The consultant will study the valuation of Hyderabad Metro Phase-I, raise loans required for takeover, and a selection of lending agencies. Further, a study will be taken on Metro Rail expansion, construction cost, and financing for Metro Phase-II.
The SBICAPS, which has been selected as the consultant, will conduct a comprehensive study on the valuation of Metro Rail Phase-I, expansion of Phase-II, and other related matters. The state government and the Centre will decide the future course of the action plan based on the report submitted by the consultant.
The CM and Union Ministers agreed to appoint a senior official from the Union government and the Special Chief Secretary of the State Municipal Administration and Urban Development (MA&UD) Department as representatives for coordination during the study by the Consultant. The two officials will work in coordination to facilitate the speedy completion of the study and official process, the press release stated.
— ANI
Reader Comments
With all due respect, but this looks like the same old story - appoint consultant, wait for report, no action for years. Hyderabad already has world-class metro in Phase 1. Why not focus on improving last-mile connectivity and reducing fares first? Phase 2 will automatically follow.
Finally some political will! I travel daily from Miyapur to Ameerpet and the metro is a lifesaver. But 1.5 lakh daily commuters in a city of 1 crore is too low. Need better integration with buses and auto-rickshaws. Let's see if this consultant addresses that.
I'm cautiously optimistic. The CM seems serious about public transport, which is great. But why only SBICAPS? Should have been a global tender for valuation. Also, hope the state government doesn't take on too much debt without proper financial planning. Metro projects are notorious for cost overruns. 🤞
As someone living near the proposed Phase 2 route in LB Nagar, this is welcome news! But I hope they also consider noise pollution and environmental impact. And please don't hike fares again - common man is already struggling with inflation.
Classic Indian bureaucracy - first meet, then appoint consultant, then wait for report, then more meetings. Meanwhile, traffic in Hyderabad gets worse every day. Why can't they just fast-track the takeover and start work on Phase 2 simultaneously? 🤦♂️
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