Chief Minister Revanth Reddy met with Union Minister for Urban Affairs Manoharlal Khattar and Minister for Railways Ashwini Vaishnaw for two consecutive days in the national capital and apprised them of the hurdles facing the takeover of Metro Rail phase-1 and the launch of Metro Phase II.
"During the meeting, the chief minister and Union ministers arrived at a consensus and decided to appoint a Consultant. The consultant will study the valuation of Hyderabad Metro Phase-I, raise the loans required for the takeover, and select a list of lending agencies. Further, a study will be taken on Metro Rail expansion, construction cost, and financing for Metro Phase-II," an official release from the CMO said on Tuesday.
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 release said.
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 Central government and the Special Chief Secretary of the State's 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, it added.
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