Now Reading: Hyderabad Metro sale deadline extended to December 31
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Hyderabad Metro sale deadline extended to December 31
Larsen & Toubro (L&T) has extended the deadline to complete the sale of its stake in Hyderabad Metro to December 31, marking the third extension in 2026. The company had agreed to sell its entire stake, over 90 per cent of the metro project, to Hyderabad Metro Rail Ltd for Rs 1,461.47 crore.
The deal was initially expected to close by June 30, then postponed to September 30. L&T announced its exit from the project due to operational and accumulated losses. L&T Metro Rail has accused the Congress-run Telangana government of failing to provide the promised financial assistance despite repeated follow-ups, adding to the company's financial strain.
Indian Opinion Analysis
The third extension points to unresolved financial hurdles between L&T and the Telangana government. L&T's accusation that the state failed to provide financial support despite repeated follow-ups suggests the delay may stem from a funding dispute rather than routine paperwork. The December 31 deadline is now the next concrete date to watch, as any further extension could signal deeper trouble in closing the deal that would transfer Hyderabad's metro operations to a state-owned entity.
Source: siasat.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
