Overview
- The state cabinet reviewed the takeover progress at Medaram on January 20, with minister Ponguleti Srinivas Reddy saying formalities are being expedited.
- A September 25 agreement with L&T Metro Rail Hyderabad Ltd requires the state to absorb about ₹13,000 crore of debt and refund roughly ₹2,000 crore of equity as a one-time settlement.
- Negotiations are underway to finish the transfer before March to stabilize Phase-I operations and enable network expansion.
- Union Minister G. Kishan Reddy urged completion of the takeover, noting the Centre’s in-principle nod for Phase-II is contingent on Phase-I transfer and coordination through the joint committee.
- Chief Minister A. Revanth Reddy said Telangana has submitted its nominees for the joint committee, while officials report fast-tracked land acquisition preparations in the Old City pending central clearance.