Telangana: KTR attacks Revanth on L&T’s exit from Hyd Metro

Demanding a central probe, former urban development minister and BRS working president KT Rama Rao has alleged that L&T, which had built phase I of the Hyderabad Metro, was driven out of Telangana because of the personal vendetta pursued by Chief Minister A Revanth Reddy. Accusing Reddy of arrogance and dictatorial tendencies, he rued that the people of the state have been put under a staggering debt of Rs 15,000 crore overnight due to this “reckless” decision of the state government.

Rao, more popularly known as KTR, further alleged that Reddy’s hackles were raised after L&T, which also constructed the Kaleshwaram Dam, had offered to repair the Medigadda barrage at its own expense. After this, the current regime started harassing the noted construction firm till it was driven out, he alleged.

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He said while K Chandrasekhar Rao had extended a soft loan of Rs 3000 crore to the firm running the Hyderabad Metro to save the project, the Congress government sabotaged the second phase of the project, which was to link the airport with the IT hub.

KTR alleged that despite a lease till 2070, L&T was forced to quit the project because of the vendetta politics and Reddy’s attempt to grab Metro land. He alleged that the Chief Minister has set his sights on the 280 acres of land allocated to the Hyderabad Metro Rail Project and wants to divide up the land among his close associates and family members.

Following the exit of L&T, the Telangana government has taken over the Hyderabad Metro Rail Phase I project, ending the public-private partnership between the two. The state government will pay Rs 2100 crore to L&T as an equity investment and will take over the project’s debt burden of Rs 13,000 crore.

L&T had cited losses to move out of the project, and Chief Minister Revanth Reddy even gave a veiled warning, saying his government will not bow down to corporate pressure.